14 February 2010
REIDIN.com INDEXFocus Turkey January 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 January 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 Istanbul Stock Exchange (ISE-100 Index).
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 January 2010. Accordingly, the rate of loss in real terms is 1.29% in Adana, 1.32% in Ankara, 1.36% in Antalya, 1.33% in Bursa, 1.28% in Istanbul, 1.39% in Izmir and 1.32% in Kocaeli on monthly basis.
When adjusted by inflation rate according to the Consumer Price Index (1.85%), the monthly real loss rate of investors of the US Dollar, Euro, Gold (ingot) and Deposit Rate were 4.02%, 6.16%, 4.81% and 1.20% respectively, while Istanbul Stock Exchange (ISE-100 Index) posted profit of 6.23%.
The residential sales prices increased 0.34% in Adana, 0.24% in Ankara and 0.49% in Istanbul; on the other hand, prices were down 0.43% in Antalya, 0.55% in Bursa, 0.18% in Izmir and 0.24% in Kocaeli during January 2010.
The residential rent prices increased 0.97% in Adana, 0.12% in Ankara and 0.71% in Kocaeli; on the other hand, prices were down 1.30% in Antalya, 1.11% in Bursa, 0.15% in Istanbul and 0.82% in Izmir during January 2010.
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