Record Rise in Housing Prices; 3 Times Prices

According to the Central Bank of the Republic of Turkey's (CBRT) house price index for August, prices increased by 185 percent compared to the same period of the previous year. In Istanbul, house prices increased by 211 percent in the same period. As of August, the unit square meter price in Istanbul climbed to 24 thousand 533 TL.

While the increase in house prices accelerated in August, it broke a new record in house price increase. According to the housing price index published by the Central Bank of the Republic of Turkey (CBRT), house prices in Turkey increased by 184.6 percent annually in August. In Istanbul, house prices increased by 210.8 percent. According to the data, prices of new houses in Turkey increased by 176.4 percent year-on-year in the same period. Non-new house prices increased by 185.4 percent. The average price per square meter in Turkey was 15,76 lira. The inflation-adjusted increase was 57.2 percent in August. In Istanbul, new houses increased by 205.7 percent and non-new houses by 211.5 percent. The average price in Istanbul was observed at 24 thousand 533 lira. House prices in Ankara increased by 193.5 percent annually in August. The average square meter price increased to 10 thousand 780 TL. In Izmir, the annual increase in the same period was 175.7 percent. The average square meter price in Izmir was stated as 17 thousand 305 TL. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!