The average period of housing sales decreased to 37 days in Turkey
Sahibinden.com announced the August 2020 Real Estate Index data. According to the statement made by Sahibinden.com, sales period of houses significantly decreased in Istanbul and Izmir, while the prices maintained their rising trend.
In Turkey, the average sales period of houses in August decreased by 30 days compared to last year and 1 day compared to July; the average period became 37 days. On the other hand, average sales price of houses, which has been increasing throughout Turkey since September 2019, maintained this increase trend in August; the average housing price increased by 3.8 percent compared to July and 28 percent compared to August 2019.
According to data from the August 2020 Real Estate Index, on the basis of housing prices in Turkey, the five most value winning counties were respectively recorded as Mugla Ula with 150 percent increase, Antalya Dosemealti with 80 percent, Mardin Artuklu with 66 percent, Mugla Fethiye with 65 percent and Mugla Ortaca by 64 percent increase.
The developing infrastructure and the continuation of pandemic conditions, the population’s departure from dense urbanization and preferring quiet living areas were effective in the value increase recorded in coastal districts, especially in Mugla.
Houses in Istanbul are still valuable
In August, the average housing price in Istanbul increased by 3.3 percent compared to July and the average sales period of houses was determined as 37 days. In Istanbul, where about 20 percent of the Turkish population resides, the districts that gained the most value on an annual basis were Basaksehir with an increase of 48 percent, Adalar with 45 percent, Beylikduzu and Kadikoy with 42 percent, and Sarıyer with 37 percent.
The average housing price in Ankara, the capital city, increased by 2.3 percent in August compared to July while the average sales period of houses was determined as 35 days. Golbasi, one of the districts of Ankara, which is intertwined with nature, became the district that gained the most value in the last year with a 54 percent increase in housing prices. Ankara districts that gained the most value on an annual basis were Kahramankazan with 42 percent increase, Akyurt with 37 percent, Sereflikochisar and Yenimahalle with 33 percent.
Housing prices are increasing in Izmir, Guzelbahce
The average housing price in Izmir increased by 3.2 percent in August compared to July; with the completion of the largest Turkish project of Istanbul-Izmir highway, the inter-city transportation is even easier in Izmir. The average sales period of houses was stated as 38 days. Guzelbahce, the district that gained the most value in July, maintained its place in the list also in August, with a 60 percent increase in housing prices compared to August 2019. Following Guzelbahce, housing prices also increased by 51 percent in Cesme, 49 percent in Urla, 48 percent in Menderes and 47 percent in Foca.
The increase in housing sales reflected on the platform
Housing sales, which slowed down considerably with the coronavirus pandemic, but recovered rapidly since June, especially with the credit incentives of state banks during the normalization process, maintained their dynamism in August.
According to TurkStat July statistics, total housing sales in July increased by 21 percent compared to June and amounted to 229 thousand 357. Of the three provinces with the highest housing sales; 39.432 sales in Istanbul, 26.885 sales in Ankara and 15.614 sales in Izmir are made.
This ongoing increase in housing sales was also reflected in sahibinden.com’s monthly announcement data. According to this data, the districts where the most “Residential for Sale” announcements were entered in August were respectively Istanbul Esenyurt, Ankara Kecioren, Istanbul Kadikoy, Antalya Kepez and Istanbul Beylikduzu.
Rent prices are decreasing in Izmir
According to the August 2020 Real Estate Index, while the average leasing time for a house stayed the same in Istanbul and Ankara in July, it decreased in Izmir. In August, average rent price in Istanbul had the same value as in July yet, it decreased in Izmir and increased in Ankara.
source: AA / translated by Bazar Team