Turkey’s Real Estate Platform Real Estate and Real Estate Investment Trust (GYODER) has published ‘GYODER Indicator Turkey Real Estate Sector 2016 4th Quarter Report’, which analyzes the sub-segments of the real estate sector on a quarterly basis.
The report states that the sale of 1 million 341 thousand 453 units and the exceeding of 2015 figures are recorded as the most important development for 2016; GYODER and Real Estate Housing REIT campaigns and banks in the second half of the year to reduce interest rates in the sector is moving attention.
‘GYODER Indicator Turkey Real Estate Sector In the 4th Quarter Report 2016, it is emphasized that various campaigns for residential sales in the second half of the year have boosted purchase motivation. Report also compares housing sales on a quarterly basis. According to this, 405 thousand 642 houses with the highest sales in the fourth quarter is located in the information. ‘December 2016’, where 142,713 residential sales were made, is the month in which the highest monthly sales were made in both 2015 and 2016, in the ‘monthly sales of some houses’ table. It is stated that the housing price indices are on the rising trend and the rent value index is decreasing in December.
The Istanbul office market is reported to have performed strongly with its large number of new projects completed in the last quarter of 2016 and high leasing volume, with total A class office supply exceeding 5 million square meters and increasing by 9 percent annually. Given the supply of about 2.8 million square meters, it is estimated that the total office supply by 2020 will be about 7.5 million square meters.