The Association of Real Estate Exporters (GIGDER), in collaboration with the branding and market research company AGS Global, has shared the 14th edition of the Real Estate Sales Index to International Investors (GIGDEKS), which is prepared quarterly.
According to GİGDEKS 14 data, the average property sale price to international investors increased from $273,233 in Q2 2024 to $277,865 in Q3. In the same period last year, this figure was recorded at $260,976.
In a period where real estate sales to international investors have weakened, GIGDEKS rose to 172.1 in Q3 2024, after reaching 169.2 in the previous quarter. The base index saw its highest level of 184 in Q1 2023.
According to the GIGDEKS 14 survey, about half of GIGDER members believe that property sales to international investors will remain stable in the next three months. The percentage of pessimistic and optimistic participants regarding sales expectations was equal, both standing at 27.6%.
In GIGDEKS 14, GIGDER members were asked, “Given the current economic conditions, when do you foresee an upward trend in property sales in Turkey?” Of the participants, 62.1% predicted that property sales in Turkey would start to increase within one year, while 20.7% expected a recovery in two years or more. Only 17.2% believed that sales would rise within six months.
One of the most striking results of GIGDEKS 14 was related to the perception of Turkey among potential international real estate investors. A total of 97% of GIGDER members reported that the investors they were in communication with had a negative perception of Turkey. Only 3% stated that the perception was positive.
GIGDER will continue to represent the voice of the sector with its work! We look forward to the results of GIGDEKS 15, covering Q4 2024.
