Prices of apartments in Turkey to be up?
The prices of residential apartments in Turkey fluctuated after the spread of the new Corona virus, as the Corna virus had major repercussions on the prices of apartments in Turkey, as there is no doubt that the spread of the Corona virus around the world, It had repercussions on the Turkish real estate market, After some sluggish peak sales, She came back strongly in the phase of gradual return to a new life, Which Turkey started since the beginning of last May of this year.
Prices of apartments in Turkey
The real estate market in general and the apartment market in Turkey in particular witnessed changes in the tendencies of those wishing to acquire apartments, These new changes have raised questions about the fate of apartment prices in Turkey during the new phase.
Answering the most important questions related to the housing price index in Turkey
Most of the points raised by these questions can be answered, By answering ten questions extracted from the REIDIN-GYODER report on the price index of apartments in Turkey and new homes in May of the year 2020, AD, as follows:
What was the rate of increase in the prices of new apartments in May of this year? Compared to prices in the same month last year?
The increase in new home prices in May of the year 2020 AD was 5.73 %، Compared to its prices in the same month of last year 2019.
What was the rate of increase in the prices of apartments in the new Turkey in May of this year compared to their prices in the previous month?
The rate of increase in the prices of apartments in the new Turkey was 0.77% compared to their prices in the month preceding April 2020.
Has the percentage of bank loan usage for home purchases decreased?
Yes, The use of bank loans in the purchase of apartments by installments in the month of May witnessed a significant decrease.
How much was the real estate inventory depreciation of residential apartments in May of the year 2020?
Looking at the inventory numbers after the end of May 2020, it becomes clear that the real estate inventory depreciation of apartments has reached 3.79 %.
Which types of apartments have seen an increase in their prices? And how much was the rate of increase?
According to the May 2020 New Home Price Index report, the prices of 1 + 1 apartments in Turkey have witnessed an apparent increase, Its amount is 0.32 %، The prices of apartments in Turkey of the 2 + 1 type witnessed an apparent decrease, Its amount is 0.21.
While the prices of apartments in Turkey of the 3 + 1 type witnessed an apparent increase of 0.41 %، And the prices of apartments in Turkey of the 4 + 1 type witnessed an apparent increase of 0.12 %.
What was the percentage of foreigners’ sales of apartments in May?
Sales of foreigners in apartments in branded projects accounted for 4.13% of the general sales in these projects, During the month of May 2020, These sales amounted to 8% of the general sales during the last six months.
What is the type of apartments preferred by foreign investors?
2 + 1 apartments ranked first among the types of apartments sold to foreigners, Its sales amounted to 68.75% of the total sales of apartments to foreign investors in Turkey.
What is the ratio of prepaid sales to loan and bond sales?
Sales of apartments in branded projects that were paid in advance in May 2020 amounted to 27.63 %، The percentage of apartment sales that were made through bank loans was 17.03 %، While sales made through financial bonds amounted to 55.34 %.
Has the real estate stock of residential apartments witnessed significant consumption?
Yes, The consumption of the real estate stock of residential apartments has witnessed a remarkable consumption, despite the restrictions imposed by the preventive measures against the Corona virus.
What was the percentage of ready-to-hand apartments in sales in May?
The percentage of apartments ready to be handed over. In the sales of branded residential apartments projects 28.85% of the total sales of these projects, While the percentage of apartments that are not ready for delivery reached 71.15% of those sales.
Experts also expected, after the end of the new Corona virus, that the prices of apartments in Turkey would rise significantly after the crisis passed.