14 November 2009
REIDIN.com INDEXFocus Turkey October 2009 Real Estate Sector Analysis – Residential
Volume: 11
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 October 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 Istanbul Stock Exchange (ISE-100 Index).
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 October 2009. Accordingly, the rate of loss in real terms is 1.81% in Adana, 1.86% in Ankara, 1.89% in Antalya, 1.87% in Bursa, 1.82% in Istanbul, 1.92% in Izmir and 1.87% in Kocaeli on monthly basis.
When adjusted by inflation rate according to the Consumer Price Index (2.41%), the monthly real profit rate of investors of the Istanbul Stock Exchange (ISE-100 Index) and Gold (ingot) were 4.77% and 0.87% respectively, while US Dollar, Euro and the Deposite Rate posted loss of 3.82%, 1.96% and 1.77% respectively.
The residential sales prices increased 2.58% in Izmir, 1.24% in Istanbul, 0.71% in Adana and 0.36% in Ankara. The residential sales prices decreased 0.11% in Bursa, 0.82% in Kocaeli and 1.87% in Antalya during October 2009.
The residential rent prices increased 1.22% in Kocaeli and 0.83% in Izmir. On the other hand, the residential rent prices decreased 0.15% in Istanbul, 0.85% in Bursa, 0.93% in Adana, 0.93% in Ankara and 3.40% in Antalya during October 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 | | 91.1 | | 85.5 | | 93.3 | |
| Dec | 88.0 | | 87.8 | | 82.9 | | 92.5 | |
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