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4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Real Estate Education in Istanbul:

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Presentation on theme: "4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Real Estate Education in Istanbul:"— Presentation transcript:

1 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

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

3 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 TURKEY

4 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

5 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

6 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

7 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

8 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

9 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

10 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

11 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

12 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

13 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

14 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

15 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

16 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

17 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

18 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

19 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

20 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

21 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

22 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

23 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

24 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

25 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

26 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

27 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University

28 4th European Real Estate Society Education Seminar The Bucharest Academy of Economic Studies ROMANIA 5-6 December 2008 Kerem Y. ARSLANLI Istanbul Technical University GDP - composition by sector: agriculture: 8.9% industry: 30.8% services: 59.3% Budget: revenues: $137.8 billion expenditures: $151.9 billion

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

30 Real Estate Education ITU first Masters Program in Real Estate Development in Istanbul/Turkey in 2001 ITU first Masters Program in Real Estate Development in Istanbul/Turkey in 2001 First Graduates in 2003 First Graduates in 2003 Followed in 2005 by other Universities Followed in 2005 by other Universities Mortgage Regulations 2007 expand RE market and Education Sector 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 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) 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… 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 Demand for 1 year executive masters international joint programmes

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

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

35 Thank You… Thank You…


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