14 December 2009

REIDIN.com INDEXFocus Turkey November 2009 Real Estate Sector Analysis -Residential

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Volume: 12
Date: December 15, 2009
Location: Istanbul, Dubai, London
The monthly and yearly earning yields of residential real estates in 7 large cities of Turkey (Adana, Ankara, Antalya, Bursa, Istanbul, Izmir and Kocaeli) for the period November 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 Gold. 
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 November 2009. Accordingly, the rate of loss in real terms is 0.73% in Adana, 0.76% in Ankara, 0.79% in Antalya, 0.76% in Bursa, 0.71% in Istanbul, 0.82% in Izmir and 0.77% in Kocaeli on monthly basis. 
When adjusted by inflation rate according to the Consumer Price Index (1.27%), the monthly real profit rate of investors of the Gold (ingot), US Dollar and Euro were 6.74%, 0.03% and 0.52% respectively, while Istanbul Stock Exchange (ISE-100 Index) and the Deposite Rate posted loss of 6.88% and 0.62% respectively.
The residential sales prices increased 2.29% in Adana and 0.47% in Kocaeli. The residential sales prices decreased 0.08% in Istanbul, 0.72% in Izmir, 0.76% in Bursa and 2.15% in Antalya during November 2009. On the other hand, the sales prices did not change in Ankara during that period.
The residential rent prices only increased 1.93% in Kocaeli. On the other hand, the residential rent prices decreased 3.13% in Adana, 2.36% in Ankara, 2.51% in Antalya, 1.94% in Bursa, 0.15% in Istanbul and 0.21% in Izmir during November 2009. 
REIDIN.com House Sales Price Index and Rent Index Figures:

 

REIDIN.com House Sales Price Indices (Nominal, Jun.07 = 100)

Month

Turkey Composite

ISTANBUL

ANKARA

IZMIR

 

2008

2009

2008

2009

2008

2009

2008

2009

Jan

103.4

89.8

105.5

88.6

96.6

85.6

102.1

97.0

Feb

103.2

86.4

104.8

84.8

95.7

82.8

103.9

91.3

Mar

105.6

85.3

108.3

84.4

98.9

81.6

105.1

87.9

Apr

104.1

86.0

107.4

84.8

97.8

81.4

101.0

93.8

May

102.0

88.0

105.5

86.1

94.0

84.5

97.9

97.4

Jun

98.2

89.8

101.6

87.2

88.1

86.5

93.7

99.8

Jul

96.0

90.5

99.0

87.9

88.4

87.4

93.8

99.6

Aug

95.8

91.0

97.5

87.9

87.4

87.5

96.2

100.8

Sep

94.8

91.2

96.2

88.6

87.6

87.1

94.6

101.2

Oct

91.8

92.1

91.8

 89.7

87.0

 87.5

94.2

 103.8

Nov

90.5

91.8

91.1

 89.7 

85.5

 87.5 

93.3

 103.1

Dec

88.0

 

87.8

 

82.9

 

92.5

 

 

REIDIN.com House Sales Price Indices (Nominal, Jun.07 = 100)

Month

ADANA

ANTALYA

BURSA

KOCAELI

 

2008

2009

2008

2009

2008

2009

2008

2009

Jan

101.7

92.4

104.2

88.3

98.0

89.1

114.2

97.7

Feb

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