Tolga İdikat: Single-price regulation will contribute to the sector

Emlakjet has published its real estate data for November regarding Turkey as a whole. According to the statement made by the company, 44% of those searching for housing across Turkey in November looked for rentals, while 56% looked for properties for sale. While there was no radical change in housing prices for sale compared to the previous month, it was observed that the downward trend in rents continued.

In Emlakjet's November data, it was seen that women searched for housing more than men. In November, the female/male housing search ratio followed a trend contrary to recent months, with 60% for women and 40% for men. According to the information provided, Emlakjet users were also asked about the "Effects of the New Listing Regulation on the Real Estate Sector." Users reported that the regulation would increase trust in real estate search platforms. 60% of those who participated in the survey believe that the new regulation will prevent fake listings.

“Identity verification will make the business more reliable”

Emlakjet CEO Tolga İdikat, whose views were included in the statement, stated that there are concerns in the real estate sector such as excessive information and listing pollution and low transparency, and said, "We foresee that the single-price regulation, which will also prevent the same listing from being published at different prices on different platforms, and the new listing regulation requiring entry with a Turkish ID number, will have positive contributions to the sector."

Emlakjet Prestige Plus member Ayten İpek also noted that the fact that real estate offices and individual users will now enter listings with identity verification will make the work done more reliable, stating, "In the real estate sector, both real estate consultants and listing platforms were being brought to the agenda in the wrong way due to fake listings. Now, with this control system, the accuracy of the published listings will be clarified. I think this situation will have positive contributions to our sector."

Housing Price Index increased by 86.5% annually

The Housing Price Index (HPI) became 1129.6 in October, with a monthly increase of 3.8% and an annual increase of 86.5%. The Housing Price Index data for the October 2023 period was announced by the Central Bank of the Republic of Turkey. The HPI (2017=100), calculated to monitor price changes in housing in Turkey adjusted for quality effects, increased by 3.8% in October compared to the previous month and reached the level of 1129.6. While the HPI increased by 86.5% on an annual basis in October, the real increase in this period was 15.4%. When looking at the HPI change for the three major cities, an increase of 2.9%, 4.7%, and 3.3% was observed in Istanbul, Ankara, and Izmir, respectively, in October compared to the previous month. Compared to the same month of the previous year, index values increased by 74.4% in Istanbul, 101.5% in Ankara, and 80.1% in Izmir.