2013-01-30 08:51:50 - Fast Market Research recommends "Turkey Real Estate Report Q1 2013" from Business Monitor International, now available

The Turkey real estate report examines the commercial office, retail, industrial and construction segments throughout the country in the context of the advantageous position of the real estate sector in spite of increasing economic and political uncertainty.

With a focus on the two principal cities of Istanbul and Ankara, the report covers the rental market performance in terms of rates and yields over the past 18 months 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. Our most recent data collection - covering the first six months of 2012 - registered growth across all commercial real estate sub-sectors is increasingly impressive when

viewed alongside the performance of its EU neighbours. Nevertheless, BMI would highlight the increasing risks to this stellar performance to date, as the risks of a hard-landing in Turkey are ever increasing and the cracks are beginning to show with several of our key indicators returning negative results.


Full Report Details at
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Demand for office space, especially in Istanbul, is growing and generally likely to continue doing so and in H112 the market remains buoyed. In the city, especially in premium areas, increasing demand combined with limited supply is lowering vacancy rates and leading to rent increases. In the retail subsector, high consumer demand for retail products - owing to sustained high consumer purchasing power at a time of low unemployment - has tended to push up retail rents, especially in prime areas. Industrial production is in good shape, and the industrial sub-sector is expected to maintain momentum. However, the rates in Istanbul for H112 are less that reassuring. This is largely a reflection of the country's economic fundamentals. Logistics is the leading industrial sub-sector, driven by increasing industrial production and growing export-import and retail markets, with increased outsourcing to third-party logistics companies.

Key Points

*
Despite macro concerns and waning confidence in the Turkish economy - we still expect strong growth of 6.25% in 2012's construction industry value. Hence, even with a considerable current account deficit, high cost of credit and structural flaws in the domestic banking and pension sectors posing significant downward risks, we remain optimistic about the industry's growth potential, thanks to a slew of ongoing high-profile projects in the country. The most notable of these are: the Sino-Turkish 'strategic partnership' high-speed rail project; the Izmit Bay Crossing and the Izmir-Istanbul highway; the Trans-Anatolian gas pipeline; and various major power plant projects around the country.
* Residential & non-residential construction activity will underperform the wider construction industry during the period 2012-16, with an annual average growth of around 2.4% in real terms. However, Istanbul will continue to be a key focus of growth and investment within the country, with a number of high-profile commercial, residential and tourism-related projects having been launched in the city.

Partial Table of Contents:

SWOT Analysis
- Turkey Real Estate/Construction SWOT
- Turkey Political SWOT
- Turkey Economic SWOT
- Turkey Business Environment SWOT
Real Estate Market Overview
Real Estate Market Analysis - Office
- Rents And Yields
- Table: Historic Rents - 2010-2011 (USD per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms Of Rental Contract/Leases - Mid-2011
- Supply And Demand
- Industry Forecast Scenario
- Table: Forecast Rents - (US$ per m2/month)
- Table: Forecast Net Yield, 2010-2017 (%)
Real Estate Market Analysis - Retail
- Rents And Yields
- Table: Historic Rents - 2010-2011 (US$ per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms Of Rental Contract/Leases-Mid 2011
- Supply And Demand
- Industry Forecast Scenario
- Table: Forecast Rents - (US$ per m2/month)
- Table: Forecast Net Yield, 2010-2017 (%)
- Table: Turkey Retail Sales Indicators, 2009-2016
Real Estate Market Analysis - Industrial
- Rents And Yields
- Table: Historic Rents - 2010-2011 (US$ per m2/month)
- Table: Net Yield, 2011-2012 (%)
- Table: Terms Of Rental Contract/Leases-Mid 2011
- Supply And Demand
- Industry Forecast Scenario
- Table: Forecast Rents - (US$ per m2/month)
- Table: Forecast Net Yield, 2010-2017 (%)
Forecast Scenarios
- Infrastructure Report
- Table: Turkey Construction And Infrastructure Industry Data, 2009-2016
- Table: Turkey Construction And Infrastructure Long-Term Forecast, 2014-2021
- Construction And Infrastructure Forecast Scenario
- Macroeconomic Outlook
- Table: Turkey - Economic Activity
Real Estate Risk/Reward Ratings
- Real Estate/Construction Risk/Reward Ratings
- Table: Real Estate Risk/Reward Ratings
- Turkey's Business Environment
- Table: BMI Business And Operation Risk Ratings
- Institutions
- Table: BMI Legal Framework Rating
- Infrastructure
- Table: Labour Force Quality
- Market Orientation
- Table: Emerging Europe - Annual FDI Inflows
- Table: Trade And Investment Ratings
- Table: Top Export Destinations
- Operational Risk
Competitive Landscape
Company Monitor
- Emlak Konut REIT
- Sinpas Gayrimenkul Yatirim Ortakligi
Demographic Data
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Full Table of Contents is available at:
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