Recovery on the property has slowed; Housing price increases in Istanbul are under inflation

From the owner of Bahçeşehir University Center for Economic and Social Research (BETAM).Recovery in the real estate market has slowed, according to the Housing Market Outlook report, which uses data from Com.

According to the report, a partial increase was observed in January based on the price per square meter and the number of sales compared to the previous month. Thus, the advertised price of houses sold per square meter, which was 2,657 TL in January 2020, reached 3,585 TL in January 2021.

Annual sales price increased by 29.3 percent in Istanbul, 36 percent in Ankara and 36.4 percent in Izmir. Average prices per square meter of the apartment for sale; 4,792 TL in Istanbul, 2,480 TL in Ankara, 4,313 TL in Izmir.

According to the information, the provinces with the fastest increase in square meter prices for sale: Mardin (66.8 percent), Aydin (55.4 percent), Sanliurfa (52.4 percent), Antalya (51.9 percent), Kahramanmaras (50 percent, 8). The years with the lowest increase in advertising prices: Bursa (30.1 percent), Istanbul (29.3 percent), Army (27.6 percent), Kocaeli (27.3 percent) and Trabzon (23.8 percent).

Monthly, advertising prices in Ankara and Izmir continue to move at the level of consumer price inflation (CPI), while advertising prices in Istanbul remained below the level of CPI. In January 2021, the monthly growth rate in the three major provinces was close to Istanbul (2.2 percent) and Ankara (2.7 percent). BETAM, rcalculates snakehead prices based on September 2017. RAs of January 2021, real housing prices are 7.3 percent lower than in September 2017.

The number of ads in rental homes has decreased

Annual rental growth rate of 19.1 percent in December, rose to 19.5 percent in January. Changes in annual rent per square meter prices in three major cities in January followed different trends. In Istanbul, the annual rental rate remained at last month’s level of 25.2 percent, the rate rose to 15.4 percent in Ankara, fell to 16.7 percent in Izmir.

While the number of rental advertisements decreased in January, the number of days when rental advertisements remained on air increased by 3 days compared to the previous month.

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