15 November 2016
REIDIN Turkey Real Estate Indices: October 2016 Results
REIDIN Turkey Residential Property Price Indices: October 2016 Results
Türkiye İş Bankası Retail Loans Department Manager Mr. Recep Haki, made a statement about the real estate indices prepared by REIDIN and The Association of Real Estate and Real Estate Investment Companies (GYODER). Mr. Haki said “We think that the REIDIN indices serve as a mirror on the evaluation of the potential of construction sector in our country. In this context, as an organization that significantly direct the banking side of the sector, we’re pleased to be contributing to the preparation of these indices. Some regulations and arrangements done in recent times, such as reducing the interest rates under 1% and reducing the legal rates of VAT, has strengthened expectations for the future. The mobility brought to the sector thru these, positively reflected to the banking sector as an increase in loan volumes.” Besides, Mr. Haki stated that İş Bank confirmed its pioneering and decisive role in the sector once again by reducing credit interest rates for a strong Turkey.
Mr. Haki made the following assessment regarding the sectoral position of Türkiye İş Bankası: “İş Bankası, continued to be one of the leading banks in the sector via its mortgage loan volume in the amount of 16.416 billion as of September 2016*”.
*Balance Sheet data of 2016/Q3.
According to the results of REIDIN TURKEY RESIDENTIAL PROPERTY PRICE INDICES, supported by İŞBANK, the residential sales prices registered an increase in TR-68 cities during October 2016. Prices increased 0.69% m-o-m and also increased 10.30% y-o-y.
The residential rental prices registered a decrease in TR-68 cities during October 2016. Prices decreased 0.05% m-o-m but increased 10.89% y-o-y.
REIDIN-GYODER New Home Price Index: October 2016 Results
According to the results of REIDIN-GYODER New Home Price Index, supported by İŞBANK, in October 2016 there is 0.29% increase with respect to the previous month and in compliance with October 2015 there is 3.34% increase.
“Branded Projects” in Istanbul Asian side shows 0.17% increase and 0.30% increase in European side.
There is an increase of 0.06% in 1+1 flat type; increase of 0.52% in 2+1 flat type; increase of 0.23% in 3+1 flat type and increase of 0.33% in 4+1 flat type with respect to the previous month.
According to the results of REIDIN-GYODER New Home Price Index in October 2016 there is 0.12% increase in 51-75sqm size; 0.49% increase in 76-100sqm; 0.40% increase in 101-125sqm size; 0.18% increase in 126-150sqm and 0.27% increase in 151sqm and bigger sized properties with respect to the previous month.