Turkey Real Estate Report Q2 2014

  • February 2014
  • -
  • Business Monitor International
  • -
  • 73 pages

Includes 3 FREE quarterly updates

BMI View:

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.

Table Of Contents

Turkey Real Estate Report Q2 2014
BMI Industry View 7
Recent Developments 7
Key BMI Forecasts 8
SWOT 9
Political 11
Economic 13
Business Environment 14
Industry Forecast 15
Office 15
Table: Forecast Rents, 2013-2014 (TRY per m²/month) 16
Table: Forecast Net Yields, 2008-2017 (%) 16
Retail 17
Table: Forecast Rents, 2013-2014 (TRY per m²/month) 17
Table: Forecast Net Yields, 2008-2017 (%) 18
Industrial 18
Table: Forecast Rents, 2013-2015 (TRY per m²/month) 19
Table: Forecast Net Yields, 2008-2017 (%) 19
Construction And Infrastructure Forecast Scenario 20
Table: Turkey Construction And Infrastructure Industry Data 20
Table: Turkey Construction And Infrastructure Industry Data 21
Macroeconomic Forecasts 29
Economic Analysis 29
Table: Turkey - GDP by Expenditure 36
Industry Risk Reward Ratings 38
Central And Eastern Europe Risk/Reward Ratings 38
Table: Central And Eastern Europe Real Estate Risk/Reward Ratings 38
Turkey - Risk/Reward Ratings 39
Market Overview 41
Istanbul 42
Ankara 42
Office 43
Table: Historic Rental Costs, 2012-2013 (TRY per m²/month) 43
Table: Net Yields, 2013-2014 (%) 44
Table: Terms Of Rental Contract/Leases, H113 45
Retail 46
Table: Historic Rental Costs, 2012-2013 (TRY per m2/month) 46
Supply And Demand 46
Table: Net Yield, 2013-2014 (%) 47
Table: Terms Of Rental Contract/Leases, H113 48
Rents And Yields 48
Turkey - Retail Sales Indicators 49
Table: Retail Sales Indicators, 2010-2017 49
Industrial 50
Supply And Demand 50
Table: Historic Rental Costs, 2013-2014 (TRY per m²/month) 50
Table: Net Yields, 2013-2014 (%) 51
Rents And Yields 51
Table: Terms Of Rental Contract/Leases, H113 52
Competitive Landscape 53
Real Estate 53
REITs 53
Construction Companies 54
Company Profile 55
Emlak Konut REIT 55
Sinpas Gayrimenkul Yatirim Ortakligi 57
Enka Insaat 59
Nurol Insaat ve Ticaret AS 62
Demographic Forecast 65
Table: Turkey's Population By Age Group, 1990-2020 ('000) 66
Table: Turkey's Population By Age Group, 1990-2020 (% of population) 67
Table: Turkey's Key Population Ratios, 1990-2020 68
Table: Turkey's Rural And Urban Population, 1990-2020 68
Methodology 69
Industry Forecast Methodology 69
Sources 70
Risk/Reward Ratings Methodology 70
Table: Real Estate Risk/Reward Ratings Indicators 72
Table: Weighting Of Indicators 73

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