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Real Estate Education in Istanbul: Analysis of Demand and Supply Kerem Yavuz ARSLANLI

4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008. Real Estate Education in Istanbul: Analysis of Demand and Supply Kerem Yavuz ARSLANLI Istanbul Technical University Real Estate Development Msc Program arslanli@itu.edu.tr.

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Real Estate Education in Istanbul: Analysis of Demand and Supply Kerem Yavuz ARSLANLI

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  1. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Real Estate Education in Istanbul: Analysis of Demand and Supply Kerem Yavuz ARSLANLI Istanbul Technical University Real Estate Development Msc Program arslanli@itu.edu.tr

  2. Outline • Turkey Country Profile • Where we came from? • Where do we go from here? • General Indexes • İstanbul Profile • Office Market • Retail Market • Housing Market • Real Estate Sector Demand Side • Real Estate Education Supply Side • Latest Economic Crises Pros/Cons!? • Conclusion

  3. TURKEY 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008

  4. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  5. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  6. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  7. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  8. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  9. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  10. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  11. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  12. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  13. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  14. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  15. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  16. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  17. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  18. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  19. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  20. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  21. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  22. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  23. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  24. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  25. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  26. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  27. 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  28. GDP - composition by sector: agriculture: 8.9% industry: 30.8% services: 59.3% 4th European Real Estate Society Education SeminarThe Bucharest Academy of Economic Studies ROMANIA5-6 December 2008 Budget: revenues: $137.8 billion expenditures: $151.9 billion Kerem Y. ARSLANLI Istanbul Technical University arslanli@itu.edu.tr

  29. Real Estate Education • 4 Universities Real Estate Education Masters Programs (2 years with thesis) (ITU/IU/Kultur/Yildiz) • 3 Universities Certificate Programs 2-3 months (Bogazici-Bilgi) • 1 Undergraduate Program at IU • 10-15 students graduate annually • >500 total graduates since 2001

  30. Real Estate Education • ITU first Masters Program in Real Estate Development in Istanbul/Turkey in 2001 • First Graduates in 2003 • Followed in 2005 by other Universities • Mortgage Regulations 2007 expand RE market and Education Sector

  31. Real Estate Education • 2007 Mortgage Regulations lead to Education Sector to short term Certificate base programs rather than 2 or 4 years Bsc or Msc

  32. Real Estate Education Demand Side • Real Estate Sector demand on internationally standartized Regulations (Valuation and Forclousure Issues) • Finance and Construction Sector dominetes as an market player and on many cases they interfier with each other… • Demand for 1 year executive masters international joint programmes

  33. Real Estate Education Supply Side • Real Estate Education seperated into different departments • Regulations and Laws tightens Cirriculums Few departments run on international standarts • International Crisis on Real Estate Pro/Cons • Sectors volume shrink / High Qualified Human Resourses on demand • Time to loose the old habits • Way of making bussiness in real estate will change so the sector professionals

  34. Real Estate Education Istanbul • Need for Joint International Programs • Regulations to be in International Standarts • Highly Qualified but disconnected human resourses • Demand on interdisciplineer Finance Departments oriented programs

  35. Thank You…

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