The Association of Real Estate Exporters (GİGDER) has shared the 13th edition of its international investor housing sales index, GİGDEKS, prepared quarterly in collaboration with brand and market research company AGS Global.
According to GİGDEKS 13 data, the average housing sale price to international investors has increased from $170,719 to $273,233. This figure marks the highest level since GİGDEKS 8.
In a context where sales of real estate to international investors have weakened, GİGDEKS rose to 169.2 in the second quarter of 2024, up from 105.7 in the previous quarter. In the same period of 2023, the GİGDEKS score was measured at 149.6.
When GİGDER members were asked about their forecasts for international housing sales over the next three months, only 17.4% expressed optimism that sales would increase. The percentage of those expecting a decline in sales fell from 47.6% in the previous quarter to 30.4% this quarter. According to the data, 52.2% of participants believe that sales will remain unchanged in the next quarter.
As part of GİGDEKS 13, GİGDER members were also asked, "How do you view the regulatory change regarding the rental of properties for tourism purposes for a duration of 100 days or less?" In their responses, 39.1% of members found the change positive, 34.8% believed it would have no significant effect, and 26.1% viewed it negatively.
In the study, GİGDER members expressed their opinions on the recent directive that removed the requirement for a valuation report in sales to international investors, excluding citizenship acquisition. 52% of members welcomed this change, while 39% stated it would have no effect on the market.
According to the GİGDEKS 13 results, GİGDER members indicated that the following areas should be prioritized in communication efforts:
GİGDER will continue to be the voice of industry representatives with its efforts! We look forward to meeting in the GİGDEKS 14 study, which will cover the third quarter of 2024.
