The rate of increase in house prices returned from the peak

The Central Bank (CBRT) announced the data of the House Price Index (KPI) for the period of October 2022.

Consequently, the KPI, which increased 5.4 percent in October compared to the previous month, increased 188.2 percent compared to the same month a year earlier.

Thus, the first slowdown was seen in house prices, which have been rising continuously for the last 1.5 years.

Finally, prices had renewed their peak in September by increasing 189.2 percent year-on-year. In October there was a decrease, although limited.

237 PERCENT IN ONE YEAR IN ANTALYA

The highest price increase on an annual basis was observed in Antalya, Burdur and Isparta with 237 percent. It was followed by Aydın, Denizli and Muğla with 205.2 percent and Adana and Mersin with 205 percent.

According to Central Bank data, the price per square meter of a house in Turkey rose to TL 15,863 in September.

In October, this price increased to 16 thousand 563 TL.

THE AVERAGE FLAT PRICE EXCEEDED 1.6 MILLION TL

In the calculation made according to the prices of the square meter, it was seen that the average price of a house of 100 square meters throughout the country reached 1 million 656 thousand 300 TL.

While prices per square meter in Ankara exceeded TL 12,000 in October, they increased to TL 19,632 in Izmir and TL 26,637 in Istanbul.

Thus, the price of a 100 square meter house in Istanbul has exceeded 2.6 million TL. In September, this price was 2.5 million TL.

According to the CBRT, house prices in Istanbul rose 204.6 percent year-on-year in October. While this increase was 198.3 percent in new residences, it was 206.9 percent in non-new residences.