Market Updates

SECOND- HAND HOME SALES IN THE USA ARE AT THE LOWEST LEVEL IN 28 YEARS

Second-hand home sales in the USA hit their lowest level since 1995 last year, due to the impact of rising mortgage (home loan) interest rates and low housing stock. The National Association of Realtors (NAR) announced second-hand home sales data for December 2023. Accordingly, second-hand house sales in the country decreased by 1 percent on a monthly basis, seasonally adjusted, to 3.78 million in...

10 MOST EXPENSIVE DISTRICTS IN TURKEY

According to the data of real estate platform Hepsiemlak; Turkey's 10 most expensive neighborhoods emerged. The entire list came from Istanbul. MOST VALUED PROVINCE ANTALYA According to the data, Antalya was the province with the highest value per square meter of residences for sale in 2022! Antalya, which was under the intense interest of foreign investors due to the Russian-Ukrainian crisis,...

CONSTRUCTION COST REDUCED SPEED

Turkish Statistical Institute announced the construction cost index data. Construction cost index increased by 3.44 percent in October 2022 compared to the previous month and increased by 117.07 percent compared to the same month of the previous year. Compared to the previous month, the material index increased by 3.88 percent and the labor index increased by 1.94 percent. In addition, the material...

FOREIGN RECORD IN ANTALYA

According to the housing sales data announced by TUIK, 6 thousand 323 houses were sold in Antalya in October. Foreigners bought 33.58 percent (2 thousand 123 units) of these residences. Mersin, Yalova and Istanbul were the other provinces with the highest proportion of sales to foreigners. Istanbul, which was in the first place in sales to foreigners in the previous 68 months when the statistics started...

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