Price Increase in Residence Remained Below Cost

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REIDIN and GYODER published ‘New Housing Price Index December 2016’ prepared by Türkiye İş Bankası support.  According to the index results, December price increase was 0.47% compared to the previous month and 2.94% compared to the same month of the previous year. The monthly price increase rate was below the cost increase due to the increasing exchange rate.

 

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REIDIN-GYODER New Housing Price Index Results For December 2016

REIDIN-GYODER New Housing Price Index GYODER Chairman Aziz Torun evaluating the results of December 2016, “The increase in December as new housing units has remained below the increase in the TUFE with the highest monthly increase since April 2016. The monthly increase rate of the project developers, reflecting the price increase, was also below the cost increase due to the increasing exchange rate. In addition, brand-based housing projects unit-based inventory dissolution rate fell to 2.4% in December from 3% in November. All these data should be interpreted well by the real estate sector and planning should be done considering these developments. ” said.

The Price Increase On Asian Side Projects Is More

REIDIN-GYODER New Housing Price Index increased by 0.47% in December compared to the previous month and increased by 2.94% compared to the same period of last year and 71% compared to January 2010, the initial period of the index. In December, 0,92% of branded housing projects located in Istanbul, Asia, Istanbul has a price increase of 0.29% in branded housing projects located in Europe. According to the initial period of the index, the projects near Istanbul Asia increased by 9.5 points compared to the European side.

Within the scope of branded housing projects, it was seen that the sales ratio made by foreign investors decreased by 8% in December. The sales rate to foreigners has been 16% on average for the last 6 months. It was observed that 55% of the foreign investors were residential type 2 + 1 houses.

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