Home Recent News Branded Residential Projects Survey | How Are the Prices?

Branded Residential Projects Survey | How Are the Prices?

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Branded Residential Projects
Nova Property

A survey carried out by EVA Real Estate Appraisal Consultancy Inc. entitled “Istanbul Branded Residential Market Survey and Forecasts” includes the types of homes which have been offered, regional increases in values, research into regional values based on type, rates of branded homes in each district, pace of home sales per region and regional assessments.

The study, which examines and analyzes the data for the Anatolian and European sides separately, has focused on close to 430 thousand homes in 1.007 branded housing projects.

According to the study, the region with the highest weighted average unit home sales price in the Anatolian side is Bağdat Street, while the region with the lowest average unit home sales price is Tuzla.

Bağdat Street, Istanbul
Bağdat Street, Istanbul

While the average unit square meter sales price of homes in Bağdat Street is 16 thousand 300 Liras / square meter, it was observed that this figure fell to as low as  2 thousand 800 Liras / square meter in Tuzla.

On the European side, on the other hand, it was determined that the region with the highest weighted average unit home sales price is the Fulya – Bomonti – Şişli – Büyükdere axis, while the region with the lowest average unit home sales price is Esenyurt.

While the average unit square meter sales price of homes in the Fulya – Bomonti – Şişli – Büyükdere axis is 15 thousand 500 Liras / square meter, it was observed that this figure fell to as low as  2 thousand 370 Liras / square meter in the region with the lowest unit prices.

According to the analysis of the average pace of home sales in the regions, it was seen that the pace of sales of homes in Istanbul varies based on the sales prices of the apartments in the region, the supply of the types of apartments which are in demand, and the sizes of the apartments. When the details in the study are examined, it can be seen that the “day / home” sales rate varies between 25,6 to 1,3 in different regions.

It has been calculated that a home is sold every 1,3 days in the Küçükçekmece-Halkalı region and 25,6 days in the Kemerburgaz region, while the percentage of branded homes is 7,7 percent of all homes.

EVA Real Estate Appraisal Consultancy experts state that there are approximately 5,3 million homes in Istanbul, according to the statistics, and that, according to their determinations, close to 430 thousand of these are from branded homes projects.

Accordingly, the percentage of branded homes in the total stock of homes is just 7,7 percent. It can be seen that the branded homes projects in the districts of Çekmeköy, Tuzla, Sancaktepe and Ataşehir, on the Anatolian side of Istanbul, have the biggest share of branded homes projects throughout the whole of the Anatolian side.

On the European side of Istanbul, on the other hand, it can be seen that the branded homes projects in the districts of Avcılar, Küçükçekmece, Bakırköy, Şişli. Başakşehir, Beylikdüzü and Esenyurt have the biggest share of branded homes projects throughout the whole of the European side. According to the study, while the share of the branded homes projects in Sultanbeyli, on the Anatolian side is 0,49 percent of the total, this figure reaches 22,32 percent in Ataşehir. On the European side, the share of branded homes in Sultangazi is 0,16 percent, while the figure in Beylikdüzü reaches 29,37 percent.

Branded Property ProjetcsAccording to the study, 28,81 percent of the branded homes in Istanbul are 3 bedroom, 27,24 percent are 1 bedroom and 26,65 percent are 2 bedroom apartments.

According to the study it can also be seen that there is a big percentage difference between the construction licenses and occupancy permits obtained between the years 2005-2009. It can be seen that the total number of apartments for which construction licenses were obtained between 2005-2009 was in excess of 500 thousand, while the number of apartments for which occupancy permits were issued were only around 75 thousand. After 2009, on the other hand, the number of apartments which completed the legal procedures begins to rise. The difference between the number of apartments which obtained construction licenses and the number which obtained occupancy permits falls to 74 percent in 2012.

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