Real Estate Platform of Turkey GYODER, three sub-segments of the real estate sector, which examines on a quarterly basis 'GYODER indicators' Turkey Real Estate Sector 2020-1. In the 'GYODER Indicator', which was published under the sponsorship of Yapi Kredi Bank, it was emphasized that in the first quarter of 2020, house sales were realized as 341 thousand units with an increase of 33% compared to the same period of the previous year. The report also stated that as of March 11, the demand for housing started to lose momentum due to the impact of the COVID-19 outbreak in our country, and the outbreak caused a significant uncertainty in the real estate investment market performance.

'GYODER Indicator' 2020-1, where predictions about the future of the industry are also conveyed. In the Quarter Report, the following information and evaluations were included: First-quarter house sales in 2020 were closed at 341.38 units with an increase of 33% compared to the same period of the previous year. As the decline in housing loan interest rates, which started in August 2019, continued in the first quarter of the year, the real return of housing prices returned to positive after 29 months as of January. However, as of March 11, housing demand started to lose momentum with the effect of the virus causing COVID-19 outbreak in our country. The epidemic caused a significant uncertainty in the real estate investment market performance.

Driving forces for the largely tested while the office market in this case Turkey in the first quarter of parallel towards the end of global effects starting to show the net as the outbreak of the year by working remotely discipline companies, will work intensity and focusing on employee health and safety flexible office space. However, strategies for workplace optimization will shape office demands in the long run. The gradual spread of social distance application will be restructured in smart office buildings with the latest technology and automation applications. The acceleration in the rental demand, which showed a significant increase in the first quarter of the year with the conclusion of ongoing leasing transactions, is expected to slow down in the coming period with the COVID-19 pandemic, as well as the marked fluctuation in the exchange rate. In this context, while the pressure on the owner is expected to increase, the environment in favor of the tenant will continue in the medium term. Nevertheless, investment activities in the office market are expected to revive in the near future with opportunistic buyers along with the re-pricing of real estate for sale.