News
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Development costs are growing rapidly, as the Turkish media write. Only in February 2023, the construction cost index increased by 2.08% compared to the previous month; the year-on-year increase was 72.37%. The index of the cost of materials increased by 3.43 compared to the previous month; for the year, the increase is 62.52%. The labor...
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KIPTAŞ, a subsidiary of Istanbul Municipality (IBB), has announced another of its projects as part of the urban transformation program. An application for KIPTAŞ Kaper Sitesi has been submitted to the Ministry of Environment and Urbanization. The volume of investments is estimated at 557,366,173 Turkish liras (TL); the process of assessing...
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Emlak Konut Gayrimenkul Yatırım Ortaklığı (GYO) Trust has published a sales report for the 1st quarter of 2023.The volume of transactions reached 15.265 billion Turkish lira (TL): it was for this amount that real estate of various types was sold in the period from January 1 to March 31, 2023. Namely – 2 272 lots with a total area of...
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The statistics collected at the end of last month show a drop in indicators for a number of parameters. Analysts compared the March figures with the figures of the same month last year - 2022, as well as data for the first quarter of both years. So, in comparison with the same month of 2022: the number of mortgage transactions...
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Turkish Airlines (or THY) reported that a decision was made to build housing for a total of 14 thousand employees of the company on its territory in Arnavutkey. THY land in this Istanbul area covers 3.6 million square meters; the construction will be carried out in partnership with the Emlak Konut Gayrimenkul Trust. Residential...
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In March 2023, foreigners purchased 3,415 housing units in Turkey; this is 3.2% of total sales. Moreover, more than a third - 1,175 residences - were bought by citizens of the Russian Federation. Which have been leading in this sense for a year, and every month. The next in terms of volume, albeit with a fair "lag", are Iranians: 472 lots....
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Minister of Transport and Infrastructure Adil Karaismayiloglu spoke about the Istanbul-Ankara high-speed train project, which will simplify the movement between the capital and the largest Turkish metropolis. Recall that lines are also being laid connecting Ankara with other major cities, in addition to the already existing high-speed...
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A selection of the most relevant news of the Turkish real estate market is in our weekly digest. Despite the fact that the average cost of a housing unit in Turkey has reached 2.3 million liras, the growth rate of housing prices in the country has slowed somewhat; economists comment on the reasons. Moreover, the construction itself, on the...
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According to TÜIK, in March 2023, more than one hundred thousand housing units were sold in Turkey; to be more precise, 105.5 thousand lots. The volume of transactions increased by 32% compared to the previous month. The average cost per square meter of housing in the country at the end of March was fixed at 17,573 Turkish lira (TL), the...
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In the second half of April, the Turkish media actively discussed the topic of reducing the growth rate of residential real estate. Analysts are voicing the alleged reasons. Firstly, there is a slight decrease in demand: many of those who planned to buy apartments or houses have already done so. Someone got a chance to take part in a...
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