Record Increase in Housing Prices Announced

Even though we are in a period where we have seen a noticeable price increase in every field recently, some sectors are achieving record increases in price. One of the most popular of these is housing prices.

The Central Bank of the Republic of Turkey recently announced the Housing Price Index for August 2021. According to the data, the country’s general housing prices 3.9% increase compared to July it happened. Compared to the same period of the previous year, there was a real increase of 11.9% and thus, the fastest increase in the index history was recorded.

Record increase occurred in the Aegean region

In addition to the 3.9% price increase compared to the previous month, compared to July 2020 33.4% nominal, 11.9% real increase seen. The increase hit new residences the most. While the price of these houses increased by 40.2% compared to August of the previous year, this number was 32% in the price of second-hand houses. The average square meter price of a house has reached 4 thousand 851.2 TL.

When we look at the cities, the annual increase in Istanbul was 30.7%, in Ankara 28.5% and in İzmir 33.6%. On a monthly basis, the monthly price increase in Istanbul was 4.3%, in Ankara 3.3% and in İzmir 3.8%. The cities that broke the record in housing price increase were again Muğla, Denizli and Aydın. The annual housing price increase in this region was 53.7%. Of course, all these prices affected not only the ads for sale, but also the ads for rent. It should be noted that August and September are also times when students take action to buy a house.