The index of new home price increased in Turkey by 5.47 in May 2021:
The index of new home price in Turkey during the current month of May increased by 0.24% compared with the previous month and by 5.47% compared with the same period of 2020.
In this regard, the Turkish government had launched economic measures to support the opportunities of ownership for low-income people. For instance, the Turkish banks provide low-interest loans to Turks and foreigners as well; but under more stringent conditions.
Given the rapid growth of this market, in addition to the gains and the incentives provided by the government, the rights it grants them to foreign buyers who buy real estate in Turkey, and the diminishing supply in exchange for the high demand, all of this led to a rise in the house price index in Turkey.
recognize with us in this article from Ebla Group Real Estate the index of house price in Turkey 2021, where the category of apartments that is most in demand for foreign was the type of 2 + 1 apartments.
An increase of the index of new home price in Turkey by 5.47 in May 2021
The price of new homes in Turkey increased remarkably by 5.47% during the current month of May of 2021:
According to the report on the price of new homes in Turkey which Real Estate Development and Investment Information Network publishes it periodically in Turkey (REIDEN GYODER), the index of new home price in Turkey increased remarkably in the current month of May by 0.24% compared with the previous month, and by 5.47% compared with the same period in the previous year 2020.
According to the report, the rate of new home sales in Turkey that were delivered by construction companies in cash and in installments increased by 85.53%. As for homes that were sold while they were under construction and have not delivered yet. The percentage of sold homes reached 14.47%. Furthermore, The index of new home price in Turkey has also increased significantly since the launch of the Real Estate Development and Investment Information Network at the beginning of 2010. Moreover, it reached in the current month of May of 2021 by 106.30.
All types of apartments witnessed an increase:
The prices of apartments of the type 1 + 1 increased by 0.11% during the month of May of the year 2021.
The rate of increase of the prices of the types of 1 + 2 and 3 + 1 apartments according to the indicator was 0.30%.
While the highest rate of prices according to the index of residential apartment price during the current month of May for the type of 4 + 1 apartments reached 0.35%.
The type of 2 + 1 apartments is the most sought-after type by foreign investors:
According to the report of New Home Price Index, the type of 2 + 1 apartments in the residential projects ranked first among the most types of apartments purchased by foreigners in Turkey.
Where 5.06% of the sales of the residential apartments that took place in the current month of May to foreigners were apartments with 2 + 1 rooms. Moreover, it reached 6.65% in the sales of apartments in the last six months. In the report of New Home Price Index in the month of May 2021, It was observed that 38.24% of foreign investors prefer apartments with 2 + 1 rooms.
And the apartments with 1 + 1 type ranked second, where the percentage of foreign purchases during the current month of May was 32.5 %. And the apartments with 3 + 1 type ranked third, where the percentage of the ownership of foreigners was 8.82%. As for the fourth place, it was for apartments with 4 + 1 rooms, where the percentage of the ownership of foreigners was 11.76%, and from other types of real estate, the percentage of the ownership of foreigners was 8.82%.
Increasing the percentage of purchase with advance payment:
According to the report of New Home Price Index related to the payment methods recorded by the sales of new homes in the various real estate projects during the month of May 2021. The percentage of purchase by advance payment reached 64.90% of the sales of new homes, while this percentage reached 64.90% in April of this year 50.36%.
As for the percentage of sales of new homes in real estate projects through bank loans, it reached 9.43% in May 2021, while the percentage of sales of new homes through bank loans in April of the same year was 17.28%.
The percentage of sales of new homes in real estate projects through securities and various installment methods during the month of May of this year reached 25.67%, while the percentage of sales of new homes from real estate companies in April of the year 2021 reached 32.36%.
The percentage of the supply shortfall in the real estate market reached 4.17%.
With regard to the supply of apartments in the real estate market, the report of New Home Price Index showed that the real estate market was in short supply with a percentage that reached 4.17% during the month of May 2021, while this percentage in the month of May 2021 reached 5.20%.
The percentage of real estate companies’ sales of the apartments that are ready to move in reached 85.53% in May 2021, while this percentage in April 2021 reached 75.07%.
Real estate companies’ sales of apartments that are under construction fell in May 2021 to 14.47%, while in April 2021 it reached 24.93%.
Edited by: Ebla Group Real Estate
Source: paraanaliz
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