14 March 2010
REIDIN.com INDEXFocus Turkey February 2010 Real Estate Sector Analysis -Residential
The monthly earning yields of residential real estates in 7 large cities of Turkey (Adana, Ankara, Antalya, Bursa, Istanbul, Izmir and Kocaeli) for the period February 2010 were calculated by using the “monthly price/square meter median sales and rent values” compiled by REIDIN.COM and weighted according to the populations in these cities.
When the residential real estate investments and the financial investment instruments are adjusted by inflation rate according to the Consumer Price Index (CPI), it is seen that the investment instrument having the highest monthly real return is the US Dollar.
When adjusted by inflation rate according to the Consumer Price Index, the residential real estate investments caused a loss to the investors in real terms in February 2010. Accordingly, the rate of loss in real terms is 0.90% in Adana, 0.94% in Ankara, 0.97% in Antalya, 0.95% in Bursa, 0.90% in Istanbul, 1.00% in Izmir and 0.93% in Kocaeli on monthly basis.
When adjusted by inflation rate according to the Consumer Price Index (1.45%), the monthly real loss rate of investors of the Euro, Istanbul Stock Exchange (ISE-100 Index), Gold (ingot) and Deposit Rate were 2.80%, 5.66%, 0.59% and 0.81% respectively, while US Dollar posted profit of 1.40%.
The residential sales prices increased 0.48% in Ankara, 0.55% in Bursa, 0.73% in Istanbul and 0.83% in Kocaeli; on the other hand, prices were down 0.26% in Adana, 0.55% in Antalya, and 0.41% in Izmir during February 2010.
The residential rent prices increased 0.48% in Adana, 0.23% in Istanbul and 1.06% in Kocaeli; on the other hand, prices were down 0.24% in Ankara, 0.39% in Antalya, 0.67% in Bursa and 0.83% in Izmir during February 2010.
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