While the average title deed value declared in real estate sales throughout the country last year was ₺187.5 thousand, the highest number was recorded in Istanbul with ₺413 thousand, in Mugla with ₺304.6 thousand and in Izmir with ₺239.5 thousand.
In Turkey, the province with the highest average title deed value declared per real estate (residence, workplace, land, field) was Istanbul with ₺413 thousand, followed by Mugla with ₺304.6 thousand and Izmir with ₺239.5 thousand.
According to the information compiled by AA correspondent, while 2 million 678 thousand real estates (residences, workplaces, lands, fields) were handed over across the country last year, a value of ₺502 billion was presented in these sales. The average value declared per title deed was ₺187.5 thousand.
With the highest average title deed value throughout the year, Istanbul was with ₺413 thousand. Last year, 382,458 real estates were sold in this city, while a total value of ₺157 billion 953 million was presented in these sales.
Mugla with ₺304.6 thousand, Izmir with ₺239.5 thousand, and Ankara with ₺218 thousand followed Istanbul. 46 thousand 142 real estates were sold in Mugla, 144 thousand 463 in Izmir, and 215 thousand 589 in Ankara.
Other provinces with an average title deed value above ₺187.5 thousand were Kocaeli with ₺194.6 thousand and Bursa with ₺194.1 thousand Antalya was very close to the average with ₺187.2 thousand.
Other provinces included in the top 20
Yalova ranked eighth with ₺179.5 thousand, Gaziantep ninth with ₺176.6 thousand, and Erzurum tenth with ₺166.9 thousand among the provinces with the highest average title value.
Other provinces in the top 20 were Kayseri with ₺161.3 thousand, Adana with ₺159.5 thousand, Trabzon with ₺155.7 thousand, Rize with ₺152.3 thousand, Eskisehir and Aydin with ₺149.4 thousand, Tekirdag with ₺144.4 thousand, Mersin with ₺144 thousand, Karabuk with ₺136.7 thousand and Diyarbakir with ₺134.4 thousand.
The lowest number is in Hakkari and Ardahan
Last year, the lowest average amount paid per title deed was in Hakkari with ₺47.5 thousand. Ardahan with ₺51 thousand and Sirnak with ₺51.1 thousand followed. 1,928 real estates in Hakkari, 2 thousand 162 units in Ardahan, 4 thousand 149 real estates in Sirnak changed hands.
In the lowest average value of title deeds, Agri was fourth with ₺54.2 thousand, Bingol fifth with ₺58 thousand, Kilis sixth with ₺58.2 thousand, Bayburt seventh with ₺68 thousand, Bitlis eighth with ₺69 thousand, Burdur ranked ninth with ₺69.1 thousand and Mus ranked tenth with ₺69.7 thousand.
Other provinces in the top 20 were Kars with ₺69.8 thousand, Cankiri with ₺73.3 thousand, Nigde with ₺74.9 thousand, Yozgat with ₺75 thousand, and Gumushane with ₺75.9 thousand, Bilecik with ₺76.1 thousand, Nevsehir with ₺79 thousand, Igdir with ₺82.9 thousand, Tokat with ₺83 thousand, Sanliurfa with ₺85 thousand.
“Higher sales to foreigners in Istanbul increase added value”
Tamer Ozyurt, Chairman of Ozyurtlar Holding’s Board of Directors, told Anadolu Agency (AA) that Istanbul ranks first in terms of both sales and added value, which once again demonstrated the importance of the city.
Ozyurt stated that Istanbul was the leader in real estate income and title deed fees last year as before and that the total amount declared for real estates sold in the city last year approached ₺158 billion.
Ozyurt reminded that 19 thousand 175 units, which corresponds to 47% of the houses sold to foreigners throughout the country last year, were made from Istanbul, “These sales have a large share in the value of ₺158 billion declared in the title deed. The foreigner invests around ₺1 million for every house they buy. The sales made to them increase the average title deed value.”
“Holiday cities make their presence felt in the top 10”
Helmann Yapi Chairman of the Board of Directors Selman Ozgun stated that among the top 10 cities with the highest average title deed value are important coastal cities such as Izmir, Mugla, Antalya, and Yalova, and made the following statements:
“Districts such as Cesme and Narlidere in Izmir, Bodrum, and Marmaris in Mugla, Kas, Kemer, and Konyaalti in Antalya are the districts with the highest square meter values. Cities such as Izmir, Mugla, Antalya, and Yalova with high average title deeds started to be preferred more with the epidemic. These provinces, which are generally in demand during the summer seasons by foreign investors and high-income citizens, are now preferred 12 months of the year after the epidemic. This popularity is reflected in the average title deed value.”
Ozgun stated that, according to CBRT figures, Antalya is among the provinces with the highest increase in housing value in the last year and that the value increase will continue.
“Low numbers in Anatolia will continue to increase in house sales”
Eyup Akbal, Chairman of the Board of Directors of Fuzulev, said that although Turkey has been the European champion in housing sales since 2013 and broke a record, it could not make a serious progress in the rate of homeownership and that the need for houses continues to increase.
Akbal stated that although the highest number of real estate sales is in Istanbul, the summit in the amount paid per title deed is also seen in this city, and said that this data shows the need for housing more clearly.
Akbal noted that with the widespread use of the savings-based housing system, housing sales will increase and said, “Especially in Anatolian cities, we see that the average title deed value is low. We expect the increase in housing sales in these provinces to continue with the interest-free housing system.”
“Istanbul maintained its top position last year”
Abdulkadir Akkus, the Chairman of the Board of Akkus Real Estate, said that the record sales achieved despite the epidemic last year found their place in ₺.
Stating that Istanbul preserves its status as the center of attraction that it has always had in 2020, Akkus said, “Every real estate investment made in Istanbul provides economic added value in many aspects. Every investment made in the region feeds other sectors. Especially foreign investors constitute an important financial resource for the sector in Istanbul.”
Source: AA / Translated by Irem Yildiz