13 December 2010

REIDIN.com INDEXFocus Turkey November 2010 Real Estate Sector Analysis – Residential

November 2010 Real Estate Sector Analysis: Residential

INTRODUCTION

The REIDIN.com Turkey Residential Property Price Indices (TRPPI) is designed to be a reliable and consistent benchmark of housing prices in Turkey. The purpose is to measure the average differences in house prices in a particular geographic market.
The monthly REIDIN.com TRPPI uses a stratified median index approach for index calculation with data covering the 7 major cities and their 71 districts, including Istanbul, Ankara, Izmir, Adana, Antalya, Bursa and Kocaeli. The national TRPPI (Turkey Composite Index) is a weighted average of those city indices.
Index series are set at 100 starting at the beginning of June 2007 and are calculated by using a moving average algorithm.

INDEX SUMMARY

•    The residential sales prices increased 1.08% in Bursa, 0.55% in Istanbul, 0.09% in Izmir and 0.01% in Kocaeli; prices were down 0.84% in Adana, 0.24% in Ankara and 1.24% in Antalya during November 2010.

•    The residential rent prices increased 0.61% in Adana, 0.26% in Antalya and 0.73% in Istanbul; prices were down 1.31% in Bursa, 0.21% in Izmir and 0.46% in Kocaeli during November 2010. On the other hand, prices were constant in Ankara during that period.

DETAILED ANALYSIS

The monthly REIDIN.com TRPPI uses a stratified median index approach for index calculation with data covering the 7 major cities, 71 districts, and their 481 sub districts including Istanbul, Ankara, Izmir, Adana, Antalya, Bursa and Kocaeli. The national TRPPI (Turkey Composite Residential Property Price Index) is a weighted average of those city indices. Index series are set at 100 starting at the beginning of June 2007 and are calculated by using a moving average algorithm.

Table 1.1 REIDIN.com House Sales Price Indices (Nominal, June 2007 = 100)

 

REIDIN.com House Sales Price Indices (Nominal, June 2007 = 100)

 

Turkey Composite

ISTANBUL

ANKARA

IZMIR

 Month

2009

2010

2009

2010

2009

2010

2009

2010

January

87.4

91.3

85.8

88.8

84.5

88.4

91.7

100.6

February

86.5

91.7

84.7

89.5

84.0

88.8

90.2

100.2

March

85.3

92.0

83.4

89.9

82.6

89.1

89.2

100.2

April

85.8

91.9

83.9

90.6

83.2

89.2

91.2

97.8

May

87.3

91.8

84.8

91.0

84.8

89.0

95.0

96.6

June

88.7

92.1

85.8

91.2

86.8

89.2

97.0

96.7

July

89.7

92.2

86.4

91.3

87.8

89.4

98.1

96.8

August

90.2

92.3

86.9

91.3

88.0

89.7

98.5

96.9

September

90.8

92.6

87.5

91.7

88.1

90.1

99.9

97.0

October

91.0

92.9

88.1

92.3

88.1

90.1

100.6

97.1

November

91.2

93.1

88.4

92.8

88.2

89.9

101.1

97.2

December

91.1

 

88.4

 

88.2

 

100.8

 

Average

88.7

92.2

86.2

90.9

86.2

89.4

96.1

97.9

Copyright © REIDIN.com

 

 

REIDIN.com House Sales Price Indices (Nominal, June 2007 = 100)

 

ADANA

ANTALYA

BURSA

KOCAELI

 Month

2009

2010

2009

2010

2009

2010

2009

2010

January

95.0

103.2

89.9

85.6

87.5

90.4

94.2

104.7

February

94.0

102.9

88.6

85.2

87.5

90.9

96.1

105.6

March

94.9

103.2

87.8

85.1

85.0

91.4

94.9

105.6

April

95.0

103.4

85.8

84.4

86.1

91.1

95.2

105.8

May

95.8

103.7

86.7

84.8

88.1

91.0

96.3

106.3

June

96.6

 104.5 

88.1

85.9

90.7

90.9

99.1

106.0

July

97.8

105.0

90.5

85.9

92.3

90.5

101.9

106.1

August

98.6

104.5

90.5

86.7

92.4

90.5

104.5

106.2

September

99.3

104.8

89.8

86.3

92.5

91.0

105.6

105.8

October

100.5

104.4

87.9

84.7

91.7

91.9

105.6

105.2

November

101.9

 103.6

86.6

83.6

91.2

92.9

105.0

105.2

December

102.8

 

86.0

 

90.9

 

104.9

 

Average

97.7

103.9

88.2

85.3

89.7

91.1

100.3

105.7

Copyright © REIDIN.com

 

 

 

 

 

 

                  
Chart 1.1 Turkey Composite House Sales Price Index (Nominal, June 2007 = 100)


Chart 1.2 Turkey Composite Rent Index (Nominal, June 2007 = 100)


Table 1.2 REIDIN.com Rent Indices (Nominal, June 2007 = 100)

 

REIDIN.com Rent Indices (Nominal, June 2007 = 100)

 

Turkey Composite

ISTANBUL

ANKARA

IZMIR

 Month

2009

2010

2009

2010

2009

2010

2009

2010

January

89.1

90.1

87.6

89.4

93.4

92.0

86.1

88.1

February

87.8

90.0

85.6

89.6

92.3

91.8

84.3

87.3

March

86.7

90.2

84.9

89.9

91.2

91.8

81.8

87.7

April

87.7

90.7

86.2

90.4

92.6

92.1

82.8

88.2

May

89.7

90.9

88.6

90.6

93.8

92.0

84.2

88.4

June

90.7

91.2

89.6

90.8

94.4

91.9

86.1

89.1

July

91.1

91.2

89.9

90.5

94.6

92.5

87.1

89.2

August

91.4

91.2