Real Estate

Housing price index of CBRT for August: Housing prices tripled in Istanbul

According to the housing price index of the Central Bank of the Republic of Turkiye (CBRT) for August, prices increased by 185% compared to the same period of the previous year. Housing prices in Istanbul increased by 211% in the same period. As of August, the unit square meter price in Istanbul increased to ₺24 thousand 533.

While the momentum of increase in housing prices continued unabated in August, a new record was observed in the increase in housing prices.

According to the housing price index published by the Central Bank of the Republic of Turkiye (CBRT), house prices in Turkiye increased by 184.6% annually in August. Housing prices in Istanbul increased by 210.8%.

According to the data, the prices of new houses in Turkiye increased by 176.4% annually in the same period. There was an increase of 185.4% in non-new housing prices. The average price per square meter in Turkiye was 15 thousand 76₺. Adjusted for inflation, the increase was recorded as 57.2% in August.

New residences in Istanbul are 205.7%; non-new residences increased by 211.5%. The average price in Istanbul was ₺24 thousand 533.

Housing prices in Ankara increased by 193.5% annually in August. The average square meter price increased to ₺10 thousand 780. In Izmir, the annual increase in the same period was 175.7%. The average square meter price in Izmir was recorded as ₺17 thousand 305.

Source: Bloomberght / Translated by Irem Yildiz

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