Fast Market Research

Just Released: "Turkey Real Estate Report Q3 2014"

Recently published research from Business Monitor International, "Turkey Real Estate Report Q3 2014", is now available at Fast Market Research

 
Repost This

Boston, MA -- (SBWIRE) -- 05/28/2014 -- Turkey's real estate market is, on the whole, following a positive growth trajectory, with retail the outperformer. Industrial is the Achilles heel of the sector, lagging behind both retail and office space in terms of rent, yields and construction growth. However, with export growth anticipated to improve over the forecast period, we could begin to see this sub-segment in a positive light.

With a focus on the two principal cities of Istanbul and Ankara, this report covers the rental market's performance in terms of rates and yields and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of the country's long-term domestic demand credentials.

Positive economic fundamentals and construction growth are underpinning our positive outlook for Turkey's real estate sector, with annual average GDP growth of 3.2% expected over the 2014-2018 period. A penchant for Western shopping trends and brands is driving large retail developments across the country, particularly in Ankara and Istanbul. This is attracting wealthy foreign players, such as Apple and Taurus Investment, which in turn is buoying rental rates and getting the attention of other players.

View Full Report Details and Table of Contents

Office space is also faring well, with around 800,000 square metres (sq m) currently being developed in Istanbul. This is sorely needed, as Istanbul's central business district (CBD) has a vacancy rate of less than 1.0%, with supply insufficient to meet demand. Both office and retail will provide healthy rental rates and yields over the forecast period to 2017.

Industrial real estate will fare less well, even after a few rocky years. That said, export growth is on the cards, especially with regards to textiles and jewellery. January-October 2013 saw textile exports reach USD6.9bn, prompting the country to draft plans regarding a logistics centre for textiles, apparel and leather, to reduce the clustering of textile, garment and leather industries.

Recent Developments

- In April 2014, Apple opened its first Turkish store, in Istanbul. It is to be in a shopping mall alongside other high-end retailers. Three more stores for Turkey are in the pipeline. - - The average value of residential real estate in Turkey rose by 10-15% in the first nine months of 2013, leading the European rise in prices, according to estimates by property consultant Knight Frank. - - In March 2014, US-based hospitality company Marriott International opened a new five-star hotel in Istanbul in a bid to expand its presence in the region. The opening of the Istanbul Marriott Hotel Sisli takes the company's total number of properties in Istanbul and in Turkey to seven and 11, respectively. - -

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Business research reports at Fast Market Research

You may also be interested in these related reports:

- Singapore Real Estate Report Q3 2014
- Pakistan Real Estate Report Q3 2014
- South Korea Real Estate Report Q3 2014
- Malaysia Real Estate Report Q3 2014
- Australia Real Estate Report Q3 2014
- Russia Real Estate Report Q2 2014
- Croatia Real Estate Report Q2 2014
- Japan Real Estate Report Q3 2014
- United Arab Emirates Real Estate Report Q2 2014
- Slovakia Real Estate Report Q2 2014