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Qatar Tribune
3 hours ago
- Business
- Qatar Tribune
Türkiye's housing market sees lowest price increase in year
Agencies Türkiye's housing market recorded its weakest monthly price increase in a year in July, according to data on Monday that signaled a continued slowdown in real terms despite nominal gains. The Residential Property Price Index (RPPI) rose by 0.9% compared to June, the Central Bank of the Republic of Türkiye (CBRT) said. This marks the lowest monthly increase since July last year. The index, which measures quality-adjusted price changes of dwellings, recorded an annual increase of 32.8% in nominal terms, yet inflation-adjusted figures revealed a 0.5% decline. The data marked the 18th consecutive month of decline in prices in real terms. Türkiye's largest and most populous city, Istanbul, saw a modest monthly increase of 0.6%, while the capital Ankara posted a stronger 1.2% rise. In contrast, the country's third largest city, Izmir, experienced a 1% monthly decline. Year-over-year, Ankara led the three major cities with a 42.9% nominal increase, followed by Istanbul at 33.5% and Izmir at 31.0%. The lowest annual increase was observed in Antalya, Burdur and Isparta region with 19.6%. The data came days after the country's statistical authority said the market recorded its strongest month of the year in July, as demand remains strong despite high borrowing costs. House sales grew 12.4% year-over-year last month to 142,858 units, marking the second-highest July figure ever. The figure extended the upward trend that began a year ago and signaled the resilience of the housing market despite tight monetary conditions and inflationary pressures. Monthly sales had ranged between 107,000 and 130,000 units in the first half of the year. Last month's performance was second only to the pandemic-driven boom in July 2020, when a low-interest loan campaign pushed sales to a record 229,357 units. The data showed mortgaged sales leaped 60.3% on an annual basis in July and accounted for 14.9% of the total figure. New home sales climbed 7.8% year-over-year, while secondhand sales jumped 14.6%. Last month, the central bank cut its key policy rate by 300 basis points to 43% as it relaunched an easing cycle that was disrupted by political turmoil earlier this year, as markets calmed and disinflation continued. The bank had hiked the one-week repo rate to 46% from 42.5% in April and lifted its overnight lending rates to 49 % following market volatility over the arrest in March of Istanbul Mayor Ekrem Imamoğlu. Imamoğlu was jailed pending trial over graft charges. Before April, the CBRT had gradually cut its key policy rate from December as inflation eased. Latest official data showed inflation slowed to 33.5% in July, the lowest rate since November 2021, having peaked at 75% in May last year. From January through July, overall sales reached 834,751 units, the second-highest seven-month total ever and a 24.2% increase from a year ago. The peak was recorded in 2020 when 854,126 units were sold in the first seven months. Mortgaged sales almost doubled during this January-July period, rising 93.2%. Industry representatives say this year's sales are expected to surpass 1.5 million units, highlighting persistent demand fueled by high rents and the fact that housing price increases currently remain below inflation. In the whole of 2024, sales grew by 20.6% to about 1.48 million units, returning to levels last seen in 2022.
Agriland
16-07-2025
- Business
- Agriland
CSO: Increase in house prices across country in year to May 2025
The lowest median price for housing in Ireland in the 12 months to May 2025 was in Co. Leitrim, according to the latest data on house prices from the Residential Property Price Index (RPPI) published by the Central Statistics Office (CSO). Overall, the RPPI increased by 7.9% in the 12 months to May 2025, up from 7.6% in the year to April 2025. Property prices in Dublin rose by 6.9% and prices outside Dublin were up by 8.7% compared with May 2024. The median price of a dwelling purchased in the 12 months to May 2025 was €370,000. The highest median price for a dwelling in the 12 months to May 2025 was €670,000 in Dún Laoghaire-Rathdown, while the lowest median price was €186,000 in Co. Leitrim. In May 2025, 3,824 dwelling purchases by households were filed with the Revenue Commissioners at a total value of €1.6 billion. These purchases were made up of 2,913 existing dwellings and 911 new dwellings. Revenue data shows there were 1,388 first-time buyer purchases in May 2025. Commenting on the release, statistician with CSO Ireland, Niall Corkery said: 'Residential property prices rose by 7.9% in the 12 months to May 2025, up from 7.6% in the year to April 2025. 'In Dublin, residential property prices saw an increase of 6.9%, while property prices outside Dublin were 8.7% higher in May 2025 when compared with a year earlier.' 'In the 12 months to May 2025, house prices in Dublin rose by 6.8% while apartment prices increased by 7.2%,' Corkey added. According to the CSO, the highest house price growth in Dublin was in Fingal at 9.3% while Dún Laoghaire-Rathdown saw a rise of 5.1%. Outside Dublin, house prices were up by 8.9% and apartment prices rose by 6.7%. The region outside of Dublin that saw the largest growth in house prices was the border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) at 11.1%, while at the other end of the scale, the south-east (Carlow, Kilkenny, Waterford, and Wexford) saw a 7.7% rise. Median house prices Households paid a median or mid-point price of €370,000 for a residential property in the 12 months to May 2025. The most expensive Eircode area over the 12 months to May 2025 was A94 'Blackrock' with a median price of €770,000, while F45 'Castlerea', Co. Roscommon had the least expensive price of €150,000.
IOL News
14-07-2025
- Business
- IOL News
Property price inflation slows to 5. 2% in February amid demand for affordable sectional title units
Sectional title schemes continue to attract buyers due to their affordability, shared amenities, and security. Annual residential property price inflation came in at 5.2% in February 2025, slightly down from a revised 5.3% in January, according to the latest Residential Property Price Index (RPPI) from Statistics South Africa. The index rose 0.4% month-on-month in February. Overall inflation is currently 2.8%. The Western Cape was the largest contributor to the annual national inflation rate, recording growth of 8.5%, with Gauteng following with house price increases of 2.5% inflation. In metropolitan areas, prices increased by 4.9% year-on-year. The City of Cape Town saw the largest metro-level rise at 7.6%, while the City of Johannesburg recorded gains of 2.9%. The RPPI for first-time sales rose by 5.5% compared to February 2024, and by 0.3% month-on-month. Resales increased by 5.6% year-on-year and by 0.4% for the month. By property type:
IOL News
10-07-2025
- Business
- IOL News
5. 2% annual inflation in South Africa's residential property prices reported for February 2025
For a first-time buyer, investor or seller, understanding the nuances of regional property trends is crucial. Image: ANA Archives The annual national residential property price inflation was 5.2% in February 2025, marginally down from a revised 5.3% in January this year. The Residential Property Price Index February 2025, released by Statistics South Africa (Stats SA) on Thursday, showed that the residential property price index (RPPI) increased by 0.4% month-on-month in February. 'The main contributors to the 5.2% annual national inflation rate were Western Cape (8.5% and contributing 3.3 percentage points) and Gauteng (2.5% and contributing 0.9 of a percentage point). "The RPPI for all metropolitan areas increased by 4.9% between February 2024 and February 2025. The main contributors to the 4.9% annual inflation rate for metropolitan areas were City of Cape Town (7.6% and contributing 2.7 percentage points) and City of Johannesburg (2.9% and contributing 0.6 of a percentage point).' The RPPI for properties sold for the first time increased by 5.5% between February last year and February this year. The index increased by 0.3% month-on-month in February. The RPPI for resold properties increased by 5.6% between the same period. The index increased by 0.4% month-on-month in February. The RPPI for sectional title properties increased by 3.2% between February 2024 and February 2025. The index increased by 0.4% month-on-month in February. The RPPI for freehold properties increased by 6.3% between February 2024 and February 2025. The index increased by 0.4% month-on-month in February. The key takeaway from the February 2025 Stats SA report is the slight dip in annual residential property inflation from 5.3% to 5.2%, alongside a modest 0.4% month-on-month increase, says Dr Meshel Muzuva, an academic programme leader for the School of Business Excellence at the Management College of Southern Africa. 'While the change is minimal, these figures suggest that property prices are beginning to stabilise after a period of more rapid growth. This points to a market adjusting to current economic conditions, particularly rising living costs, interest rates, and affordability constraints,' Muzuva said. Looking ahead, Muzuva said South Africa can expect the property market to grow steadily in the short to medium term. She said key macroeconomic factors at play are the interest rate cuts as the South African Reserve Bank (SARB) has eased the repo rate to 7.25% as of late May, with a prime lending rate of 10.75%, marking the fourth consecutive cut since September 2024. She added that a further 25 bps cuts, possibly to 10.50% prime, are anticipated through 2025, which makes borrowing slightly cheaper, which could help boost home buying in the coming months. The academic programme leader said the inflation dynamics were also at play, with CPI around 2.8 to 3.2%, SARB is comfortably within its target range, creating room for more monetary easing. 'Given that real house prices have struggled for much of the past few years, with weak transaction volumes and slower recovery relative to nominal gains, Global Property Guide believes the resumption of interest rate cuts should gradually boost market confidence, especially for first-time buyers.' Muzuva said it will be important to monitor how consumer confidence, interest rates, and employment levels evolve this year. She said should the SARB move toward interest rate cuts in response to easing inflation, this could stimulate renewed activity in the residential property market. On the other hand, she said if macroeconomic uncertainty persists, SA might expect continued caution among both buyers and sellers. 'The February RPPI suggests the property market is settling into a more balanced phase, no feverish boom, but a healthier, more measured trajectory. Watch for further repo rate cuts and CPI stability, which together could lay the groundwork for renewed market momentum, especially in key metro areas. "For buyers, sellers, developers, and lenders, it's a time to be strategically positioned, keeping a close eye on macro signals to make well-timed moves,' Muzuva said.
The Citizen
06-07-2025
- Business
- The Citizen
Why now is the most profitable time to become a landlord
Why now is the most profitable time to become a landlord Have you ever wanted to dip your toes into the world of real estate investments? Real estate experts say that now is the perfect time to do so. 'As South Africa's property landscape enters a new phase of growth and resilience, the rental and property sales markets are aligning to create a golden opportunity for those considering becoming landlords. With robust rental performance, moderating inflation, and consistent housing price appreciation, there has seldom been a better time to venture into residential property investment,' says Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa. According to the latest PayProp Rental Index for Q1 2025, the national rental market is experiencing its strongest growth in nearly eight years. The average rent in South Africa climbed to R9,132, reflecting an annual increase of 5.6%, the highest quarterly rental growth rate since Q3 2017. This surge is especially noteworthy when considered alongside low inflation levels, which averaged 3.2% in January and February, and dropped to 2.7% in March. This widened the rental-to-inflation gap, offering landlords real-terms rental growth not seen in years. Another key factor making now an opportune moment to enter the landlord market is the record low in tenant arrears. Only 17.0% of tenants were in arrears during Q1 2025, matching the lowest level ever recorded by PayProp. While South Africa's residential rental market is surging, house price growth has been slower and more measured – until recently. The Residential Property Price Index (RPPI) published by Stats SA for January 2025 shows that annual national house price inflation was 5.2%, a modest rise from the revised 5.1% in December 2024. This comes after a period of subdued growth in 2023, when the average annual increase hovered around 1.8%, following even lower rates through much of 2022. However, the momentum is beginning to shift upward. 'This gradual but promising upturn in house prices means that savvy investors can still enter the market while prices remain relatively affordable, before sharper increases potentially take hold later in the year. The current climate offers a compelling mix of capital growth potential and robust rental income streams, particularly in high-demand metros such as Cape Town, Johannesburg, and Tshwane,' says Goslett. What's more, the South African Reserve Bank's decision to cut the prime lending rate by 25 basis points earlier this year – and further reductions hinted at for later in 2025 –improves affordability for prospective property buyers. Lower interest rates reduce bond repayments, enhancing cash flow potential and return on investment for buy-to-let properties. 'We encourage prospective landlords to speak with one of our property professionals to explore investment opportunities tailored to your financial goals. Whether you're looking to grow your wealth through rental income, benefit from capital gains, or secure a retirement nest egg, 2025 is your moment to make the move,' Goslett concludes. Issued by: Kayla Ferguson
