16 January 2011
REIDIN.com INDEXFocus Turkey December 2010 Real Estate Sector Analysis – Residential
INTRODUCTION
The REIDIN.com Turkey Residential Property Price Indices (TRPPI), supported by GARANTI, 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, 71 districts, and their 481 sub 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 1.36% in Adana, 0.47% in Ankara, 0.55% in Istanbul, 0.09% in Izmir and 0.94% in Kocaeli; prices were down 1.50% in Antalya and 0.43% in Bursa during December 2010.
– The residential rent prices increased 0.30% in Adana, 0.26% in Antalya, 0.58% in Istanbul, 0.83% in Izmir and 0.23% in Kocaeli; prices were down 0.47% in Ankara and 1.33% in Bursa during December 2010.
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)
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REIDIN.com House Sales Price Indices (Nominal, June 2007 = 100) |
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Turkey Composite |
ISTANBUL |
ANKARA |
IZMIR |
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Month |
2009 |
2010 |
2009 |
2010 |
2009 |
2010 |
2009 |
2010 |
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January |
87.4 |
91.3 |
85.8 |
88.8 |
84.5 |
88.4 |
91.7 |
100.6 |
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February |
86.5 |
91.7 |
84.7 |
89.5 |
84.0 |
88.8 |
90.2 |
100.2 |
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March |
85.3 |
92.0 |
83.4 |
89.9 |
82.6 |
89.1 |
89.2 |
100.2 |
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April |
85.8 |
91.9 |
83.9 |
90.6 |
83.2 |
89.2 |
91.2 |
97.8 |
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May |
87.3 |
91.8 |
84.8 |
91.0 |
84.8 |
89.0 |
95.0 |
96.6 |
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June |
88.7 |
92.1 |
85.8 |
91.2 |
86.8 |
89.2 |
97.0 |
96.7 |
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July |
89.7 |
92.2 |
86.4 |
91.3 |
87.8 |
89.4 |
98.1 |
96.8 |
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August |
90.2 |
92.3 |
86.9 |
91.3 |
88.0 |
89.7 |
98.5 |
96.9 |
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September |
90.8 |
92.6 |
87.5 |
91.7 |
88.1 |
90.1 |
99.9 |
97.0 |
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October |
91.0 |
92.9 |
88.1 |
92.3 |
88.1 |
90.1 |
100.6 |
97.1 |
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November |
91.2 |
93.1 |
88.4 |
92.8 |
88.2 |
89.9 |
101.1 |
97.2 |
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December |
91.1 |
93.5 |
88.4 |
93.3 |
88.2 |
90.3 |
100.8 |
97.3 |
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Average |
88.7 |
92.3 |
86.2 |
91.1 |
86.2 |
89.4 |
96.1 |
97.9 |
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Copyright © REIDIN.com
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REIDIN.com House Sales Price Indices (Nominal, June 2007 = 100) |
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ADANA |
ANTALYA |
BURSA |
KOCAELI |
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Month |
2009 |
2010 |
2009 |
2010 |
2009 |
2010 |
2009 |
2010 |
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January |
95.0 |
103.2 |
89.9 |
85.6 |
87.5 |
90.4 |
94.2 |
104.7 |
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February |
94.0 |
102.9 |
88.6 |
85.2 |
87.5 |
90.9 |
96.1 |
105.6 |
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March |
94.9 |
103.2 |
87.8 |
85.1 |
85.0 |
91.4 |
94.9 |
105.6 |
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April |
95.0 |
103.4 |
85.8 |
84.4 |
86.1 |
91.1 |
95.2 |
105.8 |
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May |
95.8 |
103.7 |
86.7 |
84.8 |
88.1 |
91.0 |
96.3 |
106.3 |
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June |
96.6 |
104.5 |
88.1 |
85.9 |
90.7 |
90.9 |
99.1 |
106.0 |
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July |
97.8 |
105.0 |
90.5 |
85.9 |
92.3 |
90.5 |
101.9 |
106.1 |
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August |
98.6 |
104.5 |
90.5 |
86.7 |
92.4 |
90.5 |
104.5 |
106.2 |
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September |
99.3 |
104.8 |
89.8 |
86.3 |
92.5 |
91.0 |
105.6 |
105.8 |
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October |
100.5 |
104.4 |
87.9 |
84.7 |
91.7 |
91.9 |
105.6 |
105.2 |
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November |
101.9 |
103.6 |
86.6 |
83.6 |
91.2 |
92.9 |
105.0 |
105.2 |
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December |
102.8 |
105.1 |
86.0 |
82.4 |
90.9 |
92.5 |
104.9 |
106.1 |
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Average |
97.7 |
104.0 |
88.2 |
85.0 |
89.7 |
91.3 |
100.3 |
105.7 |
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Copyright © REIDIN.com |
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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)
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REIDIN.com Rent Indices (Nominal, June 2007 = 100) |
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Turkey Composite |
ISTANBUL |
ANKARA |
IZMIR |
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Month |
2009 |
2010 |
2009 |
2010 |
2009 |
2010 |
2009 |
2010 |
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January |
89.1 |
90.1 |
87.6 |
89.4 |
93.4 |
92.0 |
86.1 |
88.1 |
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February |
87.8 |
90.0 |
85.6 |
89.6 |
92.3 |
91.8 |
84.3 |
87.3 |
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March |
86.7 |
90.2 |
84.9 |
89.9 |
91.2 |
91.8 |
81.8 |
87.7 |
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April |
87.7 |
90.7 |
86.2 |
90.4 |
92.6 |
92.1 |
82.8 |
88.2 |
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May |
89.7 |
90.9 |
88.6 |
90.6 |
93.8 |
92.0 |
84.2 |
88.4 |
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June |
90.7 |
91.2 |
89.6 |
90.8 |
94.4 |
91.9 |
86.1 |
89.1 |
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July |
91.1 |
91.2 |
89.9 |
90.5 |
94.6 |
92.5 |
87.1 |
89.2 |
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August |
91.4 |
91.2 |
90.1 |
90.4 |
94.8 |
93.3 |
87.9 |
88.6 |
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September |
91.3 |
91.6 |
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