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WHAT HAPPENED IN THE REAL

ESTATE MARKET OF TURKEY?

L Â L A P P R A I S A L

N E W S L E T T E R

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Each year, 5 million of estate is the most preferred means decreased in the 3 quarter 2013. The highest number of the
of investment in Turkey, the together with the start of increase sales transactions of the
131 million real estate
number of the investors remained of the interest rates in parallel with independent sections occurred in
change hands in Turkey. limited as the savings and the the developments in the global December, and the lowest number
accumulation of capital were economy. of the sales transactions of the
The number of the independent insufficient until recently. Taking The number of persons using house independent sections occurred in
sections which have been sold in into consideration the direct credits that reached to the peak by October. The lowness of the figures
2013 in Turkey was announced as connection of the real estate with 198,034 persons in the second in these months can be explained
1,377,983. Based on these data, we the construction sector in the with the low number of working
can say that the proportion of the position of the locomotive of the quarter of 2013 decreased to days in these months due to the
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independent sections of the real economy of the country, significant 130,353 in the 3 quarter of 2013 festivity holidays.
estate changing hands each year in studies have been made by the together with the increase in the
Turkey is approximately 1/4 and Public to remove the barriers before interests, and the amount of the The surveys reveal that the most
the real estate investor. In this credits reduced down to TL 11,196 important factor in the purchase of
that the remaining real estate is
direction, the way of the real estate million. Despite that decrease, all a house in the Metropolitans is the
lands and fields.
investments has been paved by the data show that 2013 was an “ease of transportation”. The
legal regulations for the financial extremely brilliant year for real factors like the social environment
Credit Contribution to the
processes and most importantly by estate. So much so that, while the and the district where the house is,
Real Estate Market
the mortgage system that was amount of the housing credit in the the price, resilience to earthquakes,
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As it is in the worldwide, there is 3 quarter of 2012 was TL 6,521 green areas, parking lots, etc. came
started to be practiced. Today, the
parallelism between the interest million, this amount reached to TL to the fore as the other important
proportion of the sales of the
rates of the house credits and the 11,196 million and is doubled in the issues. In Istanbul, the second most
houses with the use of credits is
demand for the credits in Turkey. same period of 2013. Further, in important factor after the ease of
around 40 % of the total number of
The surveys made show that it is accordance with the surveys made, transportation is the resilience to
the houses sold throughout the
easier to acquire a house in Turkey the volume of the house credits earthquakes.
country.
compared to the period 5 years ago, which was TL 80 billion in 2012,

taking into account the factors like became TL 110 billion showing an Directly proportional to the
The Volume of the House
the prices of the houses, the costs increase of 30 % in 2013. population, Istanbul, Ankara and
of using credits, the increase of Credits Increased by 250 % in Izmir are the provinces where the
income, etc. in the last 5 years. 4 Years The amount of the house credits in sales are the highest. In Ankara,
At the beginning of 2012, decrease Turkey increased by 26.30 per cent Kecioren, Cankaya and Etimesgut
Real estate investments are the in the house credits moved the in one year and by 250 per cent in 4 became the counties where the
most preferred means of market and the demand to years. In accordance with the data sales were the highest, respectively.
investment due to the advantages purchase a house with house of the Turkish Statistics Agency Kecioren, which is the county
such as the value of them always credits increased. In spite of the fact (TSA), the number of the sales of having the largest population in
increases, they are not impacted by that the prices of the houses houses which was around 705,000 Ankara came to the fore as the
the inflation and they provide increased by 14.75 per cent in 2013 on the average in 2011 and 2012 county where the sales were the
income from leasing. It is possible throughout Turkey, the fact that the increased by 63 % in 2013 and highest in Ankara in 2013 with its
to earn more than the other means house credit interest rates were at became 1,144,989. 40 % of those housing oriented structure
of investment, the stock exchange, the lowest level in the history, sales are with liens. addressing the middle class and the
the foreign currencies and the especially in the first half of the year affordable prices thereof. In spite of
interest when a good choice is increased the demand for the Kecioren in Ankara and the fact that it is far from the center
made and invested depending on credits. The interests of the credits Esenyurt in Istanbul of the city, Etimesgut, which
the type and the features of the real that were in the trend of decrease In accordance with the data of the became the new favorite of the real
estate and the region where the until the end of June increased the General Directorate of Land estate investors of the Capital City
real estate is. growth rate of the credit volume. Registry and Cadastre, sales with the land potential it has,
The growth of the credits slowed transactions of 1,377,983 became the other county where the
In spite of the fact that the real and the use of the house credits independent sections were made in sales were high in 2013.

T e l l â l , MIPIM 2014 SPECIAL ISSUE