17 May 2009
REIDIN.com INDEXFocus Turkey-April 2009 Real Estate Sector Analysis – Residential
The monthly and yearly earning yields of residential real estates in 6 large cities of Turkey (Adana, Ankara, Bursa, Istanbul, Izmir and Kocaeli) for the period April 2009 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 ISE-100 Index.
When adjusted by inflation rate according to the Consumer Price Index, the residential real estate investments caused a profit to the investors in real terms in April 2009. Accordingly, the rate of profit in real terms is 0.52% in Adana, 0.52% in Ankara, 0.54% in Bursa, 0.54% in Istanbul, 0.42% in Izmir and 0.51% in Kocaeli on monthly basis.
When adjusted by inflation rate according to the Consumer Price Index (0.02%), the monthly real profit rate of investors of the Deposit Interest Rate and the Istanbul Stock Exchange (ISE-100 Index) Euro, US Dollar and Gold (ingot) were 0.93%, and 18.18% respectively, while Gold (ingot), US Dollar and Euro posted losses of 9.52%, 6.12% and 5.02% respectively.
The residential sales prices increased 6.68% in Izmir, 1.12% in Adana and %0.52 in Istanbul. On the other hand, the residential sales prices fell 0.26% in Ankara, %1.17 in Kocaeli and %1.98 in Bursa in April compared to March of this year.
The residential rent prices increased 6.70% in Istanbul, 3.53% in Bursa, 2.45% in Ankara. The residential rent prices fell 1.72% in Kocaeli. Izmir and Adana are the cities that the rent prices did not change during that period.
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