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Property Sales Report – Economics & Business Channel
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Property Sales Report

2015 Housing Sales Figures in Turkey

  • 1.289.320 housing sales were conducted throughout Turkey in 2015.

In 2015, housing sales increased by 10,6% compared to the previous year despite the 18,76% increase in the house prices. Istanbul had the biggest share (18,6%) with 239.767 sales. Istanbul was followed by Ankara (11,4%) and Izmir (6%) with 146.537 and 77.796 sales respectively. 434.388 of the sales throughout Turkey were encumbered sales whereas the 854.932 of them were conducted in other forms of sales. Sales to the foreigners increased by 20,4%.

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  • 22.830 houses sold to foreigners throughout Turkey

22.830 houses were sold to foreigners during 2015. Sales increased by 20,4% in 2015 compared to the previous year. Istanbul took the first place with 7.493 sales.

The highest number of sales in terms of country origins was made to Iraqi citizens.

Iraqi citizens bought 4.228 of the 22.830 houses sold in turkey during 2015. It accounts for more than 18% of all sales to foreigners.

Sales to Foreigners

Iraq:  4228

Saudi Arabia: 2.704

Kuwait: 2.130

Russian Federation: 2.036

England: 1.054

According to the statistics, it is observed that the housing demand by the Iraqi citizens nearly doubled and the monthly house sales surpassed 500 in the second half of 2015.

Considering that 18.959 houses were sold to foreigners in 2014, there happened a 20% increase in sales to foreigners.

  • Men bought 774.874 houses while women did 382.287

774.874 houses (60,1%) were sold to male buyers, and 382.237 (229.6%) to female buyers.

Men and women bought 29.708 houses (2,3%) on joint account.

The most sales to women were conducted in Istanbul with 67.960 houses and 17,8% share.

141.011 houses were bought by men whereas women and men bought 7.871 houses jointly in Istanbul.

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Housing sales Figures for the First 4 months in 2016

  • 409.812 housing sales were conducted throughout Turkey.

409.812 housing sales were conducted in the period of first-4-months in 2016 in Turkey. Istanbul topped the chart with the most sales in this period with the number of 75.198 sales.

129.290 encumbered sales were accounted in this period. The most encumbered sales were conducted in Istanbul with 27.903 sales.

186.768 houses were sold for the first time. Istanbul had the biggest share with 34.451 sales.

223.044 pre-owned houses were sold, and again Istanbul topped the chart with 49.699 sales.

  • 6.223 houses sold to Foreigners throughout Turkey

6.223 houses were sold to foreigners. The most sales were conducted in Istanbul.

Most sales were made to Iraqi citizens

Iraq: 1.193

Saudi Arabia: 610

Kuwait: 601

Afghanistan: 508

Russian Federation: 386

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Turkey becomes the EURO 2016 champion in housing price increase!

English newspaper the Daily Telegraph made a list on increase in value of property among the countries participating EURO 2016 and declared Turkey the champion! Iceland had the second place with a 42% increase in real estate prices in the last 5 years and Austria became third with 27% increase.

According to the news, the values of the houses sold in Turkey increased 91,3% in the last 5 years and price for a square meter reached approximately 198,00 TL. The biggest reason for the increase in housing prices are newly-institutionalizing Mortgage market and high-percentage loan capacities of the banks.

Yolande Barnes, Savills analyst, made statements about the real estate market in Turkey. Barnes said, “Turkey reflects the typical characteristics of the developing economies. Rapid urbanization in Istanbul pulls these figures up.”

Where does the European Real Estate Market go?

Real Estate market in Europe increases in shopping center openings.

5,8 million square meters of Shopping centers are expected to be opened in Europe in 2016. This figure indicates a 27% increase in the opened shopping center rates when compared to a 16% decrease in 2015.

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Cushman & Wakefield

Christian Dubois, the head of the trade department of Cushman & Wakefield stated that when the expected m2 rates of the next year is added, 9,1 million m2 of shopping centers would be opened in the period of 2016-2017.

He emphasized that this volume is important but stills lags behind the record rates witnessed in the second half of 2000s. He stated that 8 million m2 were opened every year between 2006 and 2009, and the rate reached its peak with 8.5 million m2 in 2008.

2016 and 2017 activity period will be a period in which the Russian and Turkish projects that comprise 45% of the expected portfolio become important. These countries will be followed by the development projects in Western Europe led by France, Italy and England with 36 %.

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Cushman & Wakefield

Cushman & Wakefield states a significant decrease in investment on the other hand. England and Germany put forward the 45% of the rates (+17%). The decrease in investments has been felt in Italy, Spain and France. Scandinavia, Benelux, Portugal, Poland and Turkey on the other hand continue to draw attention.

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Source: Sosyal Keçi