Average House Price in Turkey Announced

One of the items most affected by the increase in foreign exchange and inflation in Turkey housing prices was. So much so that the prices of houses for sale and rent have been updating and rising almost daily since last September. Today, there have been important statements about housing prices.

According to the data of Endeksa, the increase in house sales prices in Turkey as of the end of June 182% on an annual basis took place as The record-breaking period on a monthly basis was May with an increase of 14.7%. expected slowdown in the rise in prices announced. But this was mainly due to the decrease in demand in the market.

“The increase in housing prices will be at the level of 18.7% in the 6-month period, the reason is that it is difficult to buy a house”

Accordingly, the increase in housing prices is expected to decline to single digits in the following period. This the overall average increase in the second half of the year It is estimated to be at the level of 18.7%. According to the sources within the sector, the decrease in housing prices will be due to the following reasons:

• The narrowing of the buyer group with the limitation on housing loans,
• The prices in the market are already peaking,
• Concerns that there will be a new regulation for the sector.

Current average house prices in Turkey and year-end target:

Görkem Öğüt, the Founding Partner and General Manager of Endeksa, made a statement about the subject in Turkey, which was formed as of June. average home sales price explained as follows:

• Average square meter sales price: 9.979 TL
• Average house price: 1,317,228 TL

Öğüt, based on an average increase of 18.7% covering the next 6 months, average house prices that will occur at the end of the year presented as follows:

• Average square meter sales price: 11,853 TL
• Average house price: 1,552,743 TL

The situation is different in Istanbul and some cities:

Görkem Öğüt, by taking İstanbul, Antalya and Mersin, which are the provinces with the highest increase in housing prices, under a separate heading, stated that average house prices and projected prices explained as follows:

Istanbul:

• Average residential square meter sales price: 17,497 TL
• Projected price at the end of the year: 22,360 TL
• Average house sales price: 2,099,000 TL
• Projected price at the end of the year: 2.593.000 TL

Antalya:

• Average residential square meter sales price: 14,896 TL
• Projected price at the end of the year: 18,532 TL
• Average house sales price: 1.939.220 TL
• Projected price at the end of the year: 2.316.500 TL

Myrtle:

• Average residential square meter sales price: 8.933 TL
• Projected price at the end of the year: 11,138 TL
• Average house sales price: 1,339,550 TL
• Projected price at the end of the year: 1,704,114 TL

Advice, the highest value increase until the end of the year It will take place in Tekirdağ with 31%. stated that they predicted.

“Instant or daily changing prices will no longer exist”

Makbule Yonel Maya, General Manager of TSKB Real Estate Appraisal, also made similar statements about the upcoming process. Maya stated that the rate of increase in housing prices will slow down and that the tightening policy of the BRSA making it harder to get a loan stated. He emphasized that there were no daily or weekly changing housing prices in July, and continued his words as follows:

“Because the number of buyers has decreased. The loan rate has increased to 60%. You need to have 40% cash to buy a house. Credit purchases are not as vibrant as they used to be. This slowed the growth rate. In the coming period, there will be changes in prices in 3-month and then 6-month periods.”

The increase will be stable for a few months, but the picture is clear in the medium and long term:

İsmail Özcan, President of the Association of Real Estate Marketing and Sales Professionals, thanked him for the course of the economy. housing purchases may decline. shared. Sharing that they expect a stagnation of housing prices for 3-4 months, Özcan stated that they think that the increase will continue in the medium and long term.

Buyers of investment properties have recently trended to sell:

Ulvi Özcan, Chairman of the Board of Directors of Istanbul Real Estate Brokers Club, due to the high prices He stated that he has now started to look for himself in the direction of sales. Özcan shared the other reasons behind this as follows:

“Also, ‘is there a quota for those who own more than one real estate in terms of income tax difficulties and foreign purchases?’ The questions started. A possible 10 percent increase in the dollar also reduces domestic purchases. Therefore, the concerns of breaking and spoiling the prices in the market began. Even the possibility of being one of them disrupts the market.”