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Real Estate Market in Turkey

Posted by Alper.Ocakli on July 25, 2015
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Real Estate Market in Turkey

  • Residential real estate demand is triggered by population growth, household rate and high proportion of young population
  • Total residential real estate stock is ~17 million units (Building count in year 2005)
  • Severe housing shortage, estimated around 180.000 units per annum
  • The volume of housing loans in 2005 reached to 10 billion €
  • Introduction of real estate mortgage system by mid 2007, stimulated the demand for housing and drive house prices upwards
  • Increase in construction permits in recent years, rise in new stock
  • Rising demand in Antalya – Kemer – Alanya – Belek-Side for luxury serviced apartments
  • The new Gazipasa airport (45 km east of Alanya) to open in August 2008, has already effected the land and real estate prices of Alanya region
  • Rising interest of Europeans for residential residential developments in Mediterranean coast.
  • Total market size is estimated to be 25.000-30.000 units per annum ( 2,5-3 billion Euro)
  • There is room for retail industry to grow further, young and growing population with increasing income per capita
  • Expected shopping center supply is 1.5 million sqm by 2010
  • Yields are expected to compress due to both rising land values as well as due to rising investor interest
  • Office industry promises high rental growth and room for further grow with increasing number of global companies from different sectors entering the market
  • Economic and social trends will continue to shape the residential market in Turkey
  • Turkish real estate market will continue to represent fantastic value for money compared to its rivals

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