Real Estate

Record increase in housing prices in Turkey: 59.6% increase in December

The increase in housing prices broke a new record with 59.6% in December. While the real increase in housing prices was 17.9%, the annual increase in Istanbul was 63%.

The Housing Price Index data for the period of December 2021 has been announced by the Central Bank of the Republic of Turkey (CBRT).

The (KFE) (2017=100), calculated to monitor the quality-adjusted price changes of houses in Turkey, increased by 7.9% in December compared to the previous month and was recorded as 247.2.

While the Housing Price Index increased by 59.6% in December compared to the same month of 2020, the real increase in this period was 17.9%.


Looking at the housing price index changes for the three big cities, an increase of 9.3%, 8% and 7.3% was observed in Istanbul, Ankara and Izmir, respectively, in December compared to the previous month.

Index values increased by 63% in Istanbul, 55.7% in Ankara and 58.3% in Izmir compared to the same month of the previous year.

Source: NTV / Translated by Irem Yildiz

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