Housing Square Meter Prices Reached Their Peak

Housing Square Meter Prices Reached Their Peak Housing square meter prices have reached their peak. As of the end of August, prices peaked with 3,530 liras. According to the information obtained from the Central Bank of the Republic of Turkey (CBRT) data, the average unit price of square meter of housing in Turkey has recorded five consecutive months of decline since October 2018. Housing square meter prices, which started to rise in April 2019, rose for 17 consecutive months and reached 3,530 lira by the end of August. Accordingly, the average square meter unit price, which reached the peak of all times, increased by 20.5 percent in the first 8 months of the year and 25.9 percent in the last year. The average unit price of housing, which was 2,931 lira at the end of 2019, increased by 600 lira in 8 months. Thus, the price of a 100 square meter house rose to 60 thousand liras in 8 months. Compared to the end of 2019, the price per square meter in Istanbul increased by 828 lira in the 8-month period, while the prices increased by 1.069 lira in the last year. The average square meter unit price of housing in Istanbul increased by 22.7 percent in one year and 16.8 percent in 8 months. The price of a 100 square meter house in Istanbul has increased by over 100 thousand liras in the last year. Square meter prices in the capital Ankara reached the highest level with 2,641 liras as of the end of August. The average unit price of housing, which increased by 19.8 percent compared to the end of last year, rose 23.8 percent in the last year. Thus, the price per square meter of housing increased by 508 TL in one year and 437 TL in 8 months. In Izmir, the increase in branded projects and A plus residences in recent years was reflected with an increase in prices. Housing square meter prices, which increased for 14 months in a row in Izmir, recorded an all-time peak with 4,120 liras in August. Square meter prices, which increased by 27.4 percent in the last year, increased by 21.7 percent in 8 months of this year. The price of a 100 square meter house in Izmir has increased to 88,600 liras in the last year and to 73,600 liras in the last 8 months.