Bahçeşehir University Economic and Social Research Center (BETAM) announced that the housing market for sale across Turkey is facing a large increase compared to June of the year. In the press release, it was stated that the average current price per square meter (m2) of housing for sale increased by 86.5 percent to 21,784 TL.
Attracted Attention in Housing Prices in Istanbul, Ankara and Izmir
According to BETAM’s statement, m2 prices of residential properties for sale in Istanbul increased by 72.1 percent, by 108.2 percent in Ankara and by 98.3 percent in Izmir in the same period. According to the average m2 prices of houses for sale, it is stated that it reaches 30,588 TL in Istanbul, 15,922 TL in Ankara and 25,000 TL in İzmir.
According to BETAM, the increase from May to June was higher than monthly inflation. In the report, it was stated that this means that sales prices have increased in real terms after adjusting for inflation.
The Effect of the Eid Holiday Was Felt
In the report, which stated that there was a long holiday in June, it was stated that the normal trend of the housing market slowed down a bit during this period. In this period, it was stated that the housing demand index decreased by 6.3 percent with the effect of the Eid holiday, while the decrease in the number of houses sold was noted.
Situation in the Rental Housing Market
In the same press release of BETAM, it was stated that the rental housing market in Turkey was also active. It was stated that the annual rate of increase in the average rental housing ad m2 price compared to June was calculated as 110.8 percent and the average rental housing ad m2 price across the country reached 119.2 TL with this increase. The demand for rental housing continues to increase despite rising prices. According to the data released by BETAM, the rental housing demand indicator increased by 12.3 percent in June compared to May.
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