Endeksa and TÜGEM Quarter Second Hand Housing Sales Report

The average residential square meter sale price in Turkey is 2 thousand 434 TL

According to the report “Second Hand Housing Market” prepared in cooperation with TÜGEM and Endeksa, as of the end of the 2nd quarter, housing prices were increased by 14% per year in Turkey, as of the end of the 2nd quarter. The average sales price per square meter of housing in Turkey is 2,434 TL, average depreciation period 18 years, average marketing time 77 days.

Second hand housing stock number showed a decline

The number of 2nd hand inventories declined. At the end of the 2nd quarter, 119,723 in Istanbul, 54,797 in Ankara, 35,511 in Izmir, 21,901 in Antalya, 12,334 second hand housing stock in Bursa It's.

In the 2nd quarter, the number of housing sales increased by 14% compared to the same period last year

In the 2nd quarter of 2020, 283,731 housing sales were made. The number of housing sales fell 17% compared to the previous quarter and increased by 14% compared to the 2nd quarter of 2019. 193,391 second-hand housing sales in the 2nd quarter, 137,075 loan housing sales took place. Second-hand housing sales increased by 28% and loan housing sales increased by 207% compared to the 2nd quarter of last year.

Quarterly housing sales customs

Second hand housing sales increased by 28% compared to the same period last year

In the 2nd quarter 193,391 second-hand housing sales took place. With this figure, second-hand housing sales fell 17% compared to the previous quarter and 28% compared to the 2nd quarter 2019. Used housing sales accounted for 68% of total housing sales. Loaned housing sales accounted for 48% of total housing sales to 137,075 units, which was 38% in the previous quarter. Loan housing sales increased by 6% compared to the previous quarter; 207% compared to the 2nd quarter last year.

Month-based housing sales customs

2. Quarter Residential Sales Comparison

3 thousand 304 dwellings sold to foreigners

In the 2nd quarter, 3,304 housing sales to foreign nationals took place. With this unit, the sale of housing to foreigners fell 70% compared to the previous quarter and 68% compared to the 2nd quarter of 2019.

1-year increase in housing prices across Turkey by 14%

As of the end of the 2nd quarter, housing sales prices across Turkey increased by 14% in the last 1 year; Average sales price per square meter of housing throughout Turkey is 2,434 TL, average depreciation period 18 years, average marketing time 77 days. housing prices increased by 11% in 1 year. In Ankara, where 11% of housing sales occurred, housing prices increased by 12% over the last 1 year.

Average price, value change, marketing and depreciation period in the provinces where most housing is sold

Evaluating the report, Indexsa.com Founder Partner and General Manager Görkem Öğüt said, “The real estate sector, which was selling at record level in December 2019, started fast in 2020 but the pandemic With the influence of housing sales in April and May, the customs of housing had occurred quite below the last year. The price of the 2nd hand real estate advertised with attractive housing loan conditions provided by public banks as of early June and the realization of the demand postponed by the pandemic increased.

As of the end of June, we see that the price of housing sales in Turkey increased by 14% compared to last year. The sales price increase in the first 6 months of 2020 is mainly three factors we can connect; the first is that the sector is already on the rise curve since September 2019; the second is the increase in demand for new housing due to the change created by the pandemic in our life conditions and June Very attractive housing loan campaign announced at the beginning of the month.

With the pandemic effect, the number of housing sales in the 2nd quarter decreased by 17% compared to the previous quarter, but we see the number of housing sales in the 2nd quarter increased by 14% compared to the same period last year. We anticipate an increase closing for the real estate sector,” he said.

TÜGEM Founder Hakan Akdogan said: “Despite the pandemic impact compared to last year, we had a rapid normalization process with June data. The share of the second hand in total housing sales continues to increase, pushing 70%. Only in June 131 thousand 380 second-hand housing was sold. In this increase, in particular, the reduction of interest rates on housing loans and extending the maturities had a huge impact. But this should not be seen as an opportunityism. For the moment, we see ads above market value in the advertisements given by some owners. Even many real estate businesses do not receive the authority to sell real estate, whose price is high. In this regard, of course, it is not possible to determine the sale price for real estate only by looking at the available ads. With the decision support systems we use, Competitive Market Analysis, we can track the price changes of owners and inform them about market — market values.”

Second hand housing stock highest province Istanbul

As of the end of the 2nd quarter of 2020, the number of second hand housing stock is the highest number of provinces in Istanbul, Ankara, İzmir, Antalya and Bursa respectively. The highest stock rate is Ankara with 2.1%, Istanbul with 1.9% and Antalya with 1.7%. There are 119,723 used stock in Istanbul, 54,797 in Ankara and 35,511 in Izmir.

2. hand housing stock quantity is the highest 20 province

Second hand housing stock highest district Çankaya

When examining the districts in the provinces where housing sales rates are the highest number of second hand housing stock in Istanbul, Esenyurt, Çankaya in Ankara, Karabaklar in Izmir, Antalya Muratpaşa and Bursa is seen to be Nilüfer. When examining all the districts of 5 major cities, it is seen that the largest housing stock is in Çankaya with 13.039 units. İzmir Çeşme with 4.1% is the highest housing stock rate.

Districts where second-hand housing stock quantities are highest

*The number of second hand housing inventories was calculated based on residential buildings aged 2 years and older, which are on sale at the end of the 2nd quarter of 2020.

Click to download the report.