Housing Prices In Turkey Broke A New Record

The Central Bank of the Republic of Turkey (CBRT) published the housing price index for November. Accordingly, the annual increase in housing prices in November reached a new record level of 50.5%. According to the data, the annual increase in Istanbul reached 51 percent, while the average unit price per square meter exceeded 9 thousand TL. According to the housing price index published by the Central Bank of the Republic of Turkey (CBRT), housing prices increased by 50.5 percent annually in November. Adjusted for inflation, the increase was recorded as 19.7 percent. In October, the annual increase reached 40 percent. According to CBRT data, house prices increased by 9 percent in November compared to the previous month. The new housing price index in Turkey increased by 58.9 percent in November compared to the previous year. It was observed that the prices of non-new houses increased by 48.7 percent annually in the same period.

The fastest increase is in Istanbul

In November, the fastest annual increase in housing prices among the three metropolitan cities was in Istanbul with 50.9 percent. Izmir followed Istanbul with 49.5 percent and Ankara with 46.3 percent. While the annual price increase in new houses in Istanbul was 60 percent in November, this figure was 58.2 percent in Izmir; In Ankara, it was recorded as 56.5 percent. On the other hand, the annual price increase in Istanbul for non-new houses is 50.1 percent; 45.7 percent in Izmir; In Ankara, it was 44.3 percent. According to the CBRT data, the unit price per square meter in Istanbul in November was 9 thousand 151 TL, in İzmir 6 thousand 882 TL and in Ankara 4 thousand 207 TL.