Emlakjet released November real estate data for Turkey in general. According to the company’s statement, 44 percent of those looking for a house for rent and 56 percent for sale were looking for a house in Turkey in November. Although there was no radical change in the prices of houses for sale compared to the previous month, it was observed that the downward trend in rents continued.
Emlakje’s November data showed that women are looking for housing more than men. In November, the male/female housing search ratio was in the opposite direction from recent months, 60 percent for women and 40 percent for men. According to the information provided, Emlakjet users were also asked about the “Effects of the new advertising regulation on the real estate sector”. Users said the regulation would increase trust in property search platforms. 60 percent of respondents think that the new regulation will prevent false advertising.
“Identity Verification Makes Business Trustworthy”
Emlakjet CEO Tolga İdikat, whose views were included in the statement, said there are concerns in the real estate sector such as high information and advertising pollution and low transparency, saying, “There is a single price regulation to prevent the same.” from posting ads at different prices on different platforms and submitting ads with TR IDs.” “We anticipate that the new posting regulation will have a positive impact on the industry,” he said.
Emlakjet Prestige Plus member Ayten İpek noted that the fact that real estate agencies and individual users will now be able to submit ads with identity verification will make the work done more reliable, saying: “In the real estate sector, both real estate consultants and real estate agencies have been getting into the platform front in the wrong way because of fake ads. Now with this control system, the accuracy of published ads will be clear. “I think this situation will have a positive benefit for our industry,” he said.
The housing price index increased by 86.5 percent year-on-year
The Home Price Index (HPI) reached 1129.6 in October, a monthly increase of 3.8 percent and a year-on-year increase of 86.5 percent. Housing Price Index data for October 2023 was published by the Central Bank of the Republic of Turkey. The KPI (2017=100), which is calculated to track quality-adjusted house price changes in Turkey, rose 3.8 percent in October from the previous month to reach 1,129.6. While the KPI increased by 86.5 percent year-on-year in October, the real increase in this period was 15.4 percent. Looking at the change in KPIs for the three main provinces, an increase of 2.9, 4.7 and 3.3% was observed in Istanbul, Ankara and Izmir in October compared to the previous month. Compared to the same month last year, the index values increased by 74.4% in Istanbul, 101.5% in Ankara and 80.1% in Izmir.