11 SIGNS OF CHANGE

Over the last three years there have been significant changes in housing. Small boutique projects have replaced large ones and second hand sales have overtaken new housing. The stock of completed housing in major cities is rising rapidly. Those building h

Capital (Turkey) - - SURVEY -

1SECOND- HAND HAS OVERTAKEN FIRSTHAND

1,289,320 housing units were sold in 2015. In 2014 housing sales rose by 6.7 per cent compared with the previous year. In 2015 housing sales broke the record by rising by 9.6 per cent compared with 2014. Compared with three years ago, the share of firstand second-hand sales are almost the same. But in the last three years, second-hand housing had begun to take the largest share of sales. 409,812 housing units were sold in the first four months of this year. New housing units accounted for 186,768 of these, compared with 223,044 second hand sales.

2STOCKS ARE GROWING

According to the December 2015 edition of Eva Gayrimenkul Değerleme’s Istanbul Brand Name Housing Market Research and Forecasts Report, at the end of 2015 the housing stock in Istanbul as a whole stood at 500,585 units in 1,242 projects. Two years ago there were 428,893 apartments in 1,000 projects. Eva Gayrimenkul Değerleme’s Licensed Evaluation Expert Şeyma Şehirli says that there has been an increase of 24 per cent in terms of the number of housing projects and a rise of 17 per cent in the number of apartments.

3THE RISE IN PRODUCTION WILL CONTINUE

Despite the recent stagnation in sales, there has been no decline in production by brand name housing producers. On the contrary, there has been a striking increase in production. According to data from Reidin, in 2012 and 2013 there was an annual average of 250 new projects in Turkey, while the figure was

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