According to the January Report of “Sahibindex Housing for Sale and Rental Market Outlook” prepared in cooperation with sahibinden.com-BETAM, price increases across the country slowed down.
The “Sahibindex Housing Market Outlook for Sale and Rental” report prepared by Bahcesehir University Center for Economic and Social Research (BETAM) based on the advertisement data of sahibinden.com, deals with the changes in the housing market.
According to the report, the average current price per m2 of housing for sale throughout Turkiye on an annual basis increased by 134.9% and reached ₺15,802. During the same period, the current prices of residential properties for sale increased by 142% in Istanbul, 139.6% in Ankara and 136.9% in Izmir. Average m2 prices of houses for sale were ₺23,333 in Istanbul, ₺10,541 in Ankara and ₺17,925 in İzmir. According to the data obtained, the decline in the annual increases in housing sales prices in recent months continued in December as well. While the annual rate of increase in the average rental price per square meter in Turkiye was 172.9% in December, the average price per square meter for rental housing increased to ₺71. The report also focused on the houses for sale and rental in the districts of Istanbul.
There is a decrease across Turkiye
The annual rate of increase in house prices for sale decreased throughout Turkiye. The annual price increase, which was 174.1% in November, declined to 134.9% in December. In the same month of the previous year, the average m2 price of house for sale in Turkiye, which was ₺6,726, increased to ₺15,802. The annual rate of increase in the current prices of houses for sale; decreased from 190.5% to 142% in Istanbul, from 181.7% to 139.6% in Ankara, and from 169.1% to 136.9% in Izmir. The decline in the three big cities was accompanied by the prices in the big cities. The provinces with the lowest increases are Erzurum (108.8%), Mugla (102.8%), Kayseri (98.5%), Sanliurfa (96.9%) and Diyarbakir (91%), while the metropolitan cities with annual price increases are respectively. Kocaeli (166.5%), Mersin (160%), Trabzon (154.3%), Antalya (150%) and Istanbul (142%).
Rent increase in three big cities
The annual change in rental prices across Turkiye increased in December, as it did last month. The annual rate of increase in rental prices, which was 168% in November, rose to 172.9% in December. The current average m2 rental price in Turkiye, which was ₺26 in the same period of the previous year, became ₺71. Annual rate of increase in rental advertisement square meter prices increased in three metropolitan cities.
In the report, the annual rate of increase in rental prices increased from 147.7% to 150% in Istanbul and from 150% to 160.9% in Ankara, in Izmir increased from 160% to 162.2% from November to December. Average rental price per square meter was ₺100 in Istanbul, ₺47 in Ankara and ₺68.2 in Izmir.
2 times increase in a year in Antalya
The average annual rent increase in December was 172.9% across the country. While Antalya was the province with the highest rate of rent increase (292.2%), it was noteworthy that the average rent prices doubled in one year. The major cities with annual rent increases were Trabzon (218.2%), Denizli (212.5%), Mersin (207.7%) and Adana (181.3%), respectively. The provinces with the lowest price increases were Diyarbakir (100.0%), Kahramanmaras (108.3%), Gaziantep (111.1%), and Van (119.8%). Compared to the previous month, the number of rental housing advertisements decreased by 0.4% across the country (from 215,260 to 214,436), decreased by 2.6% in Ankara (from 17,565 to 17,117), by 3.6% in Izmir (from 15,974 to 15,391), and increased by 2.2% in Istanbul (from 68,408 to 69,913). While the ratio of the number of rented houses to the number of rental advertisements increased in Ankara, it decreased in Istanbul and Izmir. While this rate decreased by 1.5 points in Istanbul and Izmir in December, it increased by 1.8 points in Ankara. According to the latest data, the ratio of the number of rented houses to the number of rental advertisements was 16.8% in Istanbul, 17.8% in Ankara and 15.9% in Izmir.
Kagithane district is the leader in rent
The January Report of “Sahibindex Housing for Sale and Rental Market Outlook” also focused on the rate of increase in sales and rental prices in the districts of Istanbul.
While Kagithane (257.8%) was the district with the highest rent increase in the last year, Kagithane was followed by Esenler (190.8%), Sultanbeyli (185.5%), Maltepe (183.3%) and Sultangazi (180.4%). On the other hand, the lowest sales price increase was calculated in Beykoz (96.4%). Respectively, Sariyer (108.9%), Esenyurt (110.1%), Gaziosmanpasa (114.3%) and Avcilar (114.3%) were the districts with the lowest sales price increases. As of December 2022, the three districts with the highest average m2 rental price were Besiktas (₺257), Sariyer (₺238) and Beyoglu (₺189), respectively. The lowest m2 rental price was observed in Arnavutkoy (₺58), Sultanbeyli (₺57) and Silivri (₺50) districts.
Source: Ekonomim / Translated by Irem Yildiz