Branded Houses Are in a Mad Scramble by Foreigners

Thirty percent of sold branded houses in February were bought by foreigners. Especially the ones 3+1 are in demand.

Thirty percent of sold branded houses in February were bought by foreigners. Especially the ones 3+1 are in demand.

With the support of Türkiye İş Bankası, new housing price index was issued by GYODER ( Realty and Realty Co-funding) and REIDIN (Realty Investmen and Developing Information Network).

According to data of index in February, houses which are approximately 135 m2 are demanded and Thirty percent of sold branded houses were bought by foreigners.

According to the GYODER – REIDIN New Housing Price Index,  in February prices increased 0.66 percent in comparison with previous month,  9.13 percent in comparison with previous year same term and 68.80 percent in comparison with 2010 January which is the year when index started.

Index in February increased 0.29 percent in comparison with previous month in branded housing projects in İstanbul Asian side and increased 0.66 percent in branded housing projects in İstanbul European side. In comparison with the time index started projects in İstanbul Asian side increased 8.2 points more than European side.

In comparison with previous month, prices increased 0.36 percent for the houses 1+1 types, 0.63 percent for the houses 2+1 types, 1.02 percent for the houses 3+1 types and 0.13 percent for the houses 4+1 types. In addition, in comparison with January the index which increased 0.44 percent for 51-75 m2 houses increased 0.67 percent for the houses 76-100 m2, 0.86 percent for the houses 101-125 m2, 0.91 percent for the houses 126-150 m2, 0.61 percent for the houses 151 m2 and bigger ones.

According to New Housing Index, while 23 percent of the sold houses are the ones completed buildings, 77 percent are the ones which are not completed. 23 percent of the sold houses in Asian side are from the completed ones while 17 percent of the sold houses in European side are from the completed ones.

When it is checked the percentages of usage of advance payment, note and bank credit by the customers who bought houses from branded projects, it can be seen as; the percentage of using advance payment is 37 percent, the percentage of using bank credit is 38 percent and percentage of using note is 26 percent.

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