New record in increase of house prices: 127 percent

The upward trend in housing prices continues uninterrupted. According to the Central Bank data, house prices increased by 127% year-on-year in April, refreshing a record. The average price of a 100 square meter house across the country has exceeded 1 million liras, as of April.

The Central Bank’s (CBRT) House Price Index (CPI) for April 2022 revealed that record increases in house prices are continuing.

Accordingly, the KFE (House Price Index) increased by 10.2 percent in April 2022 compared to the previous month and by 127 percent compared to the same month of the previous year.

In March 2022, house prices, which increased by 9.3 percent compared to the previous month, had increased by 110 percent compared to the same month of the previous year.

AVERAGE PRICE ACROSS THE COUNTRY EXCEEDS 1 MILLION TL

The highest increase was in Antalya, Burdur and Isparta regions with 158.7 percent. This increase was followed by Aydın, Denizli, Muğla with 146 percent; Istanbul saw a rate of 142.2 percent.

As of April, the average price of a 100-square-meter residence nationwide exceeded 1 million TL. This amount exceeded 1 million 730 thousand TL in Istanbul.

NEW HOUSING IN ISTANBUL INCREASES BY 157.2 PERCENT

In April, house prices increased by 127 percent year-on-year across the country, while this increase was 130.9 percent in Ankara and 142.2 percent in Istanbul.

SOURCE: sozcu.com.tr/2022/ekonomi/konut-fiyat-artisinda-yeni-rekor-yuzde-127-7197451/