The first city changed in the rise in housing prices

Bahçeşehir University Economic and Social Research Center (BETAM) announced the Home Sales Market Report for December 2022.

According to the report, the current average price per square meter of housing for sale across the country increased by 134.9% in December 2022 compared to December of the previous year and reached TL 15,802.

In the same period, the current prices of residential properties for sale increased by 142% in Istanbul, 139.6% in Ankara and 136.9% in Izmir.

Average prices per square meter of residences for sale were TL 23,333 in Istanbul, TL 10,541 in Ankara and TL 17,925 in Izmir.

Source: BETAM

KOCAELİ BEATS MERSIN

Over the last year, Mersin was almost the champion of rising house prices.

Starting in December, Mersin gave first place to Kocaeli.

Consequently, Kocaeli was the province with the fastest increase in prices per square meter of residences for sale with 166.5 percent.

Mersin followed with 160 percent, Trabzon with 154.3 percent, Antalya with 150 percent and Istanbul with 142 percent.

The provinces with the lowest increases were Erzurum (108.8%), Muğla (102.8%), Kayseri (98.5%), Şanlıurfa (96.9%) and Diyarbakır (91%).

REAL PRICES EXCEED THE VALUE IN 2017

In the report, it was noted that the rate of increase in the price of houses for sale also decreased in December.

The annual price increase, which was 174.1 percent in November, dropped to 134.9 percent in December.

It was indicated that the base effect also played a significant role in this strong drop in the annual rate of price increases in December.

On the other hand, it was reported that the nationwide real house price index, which has risen steadily since May 2020, reached 186 in December 2022, an increase of 6.5 points from the previous month. .

While inflation was 1.2 percent from November to December, the current increase in house prices in Turkey was 4.8 percent in the same period.

This level of the index showed that the actual prices of homes for sale exceeded their value in September 2017 by 86 percent.

1 PERCENT INCREASE IN THE NUMBER OF LISTINGS FOR SALE

He specified that the demand for housing, which remained almost unchanged between September and November 2022, increased in December.

The housing demand index, which rose 14.8 percent compared to November, hit the 127 level. However, housing demand remained 36.9 percent lower than in November last year.

Compared to November, the number of ads for sale increased 1 percent (from 785 thousand 15 to 793 thousand 254) and the number of houses sold increased 9.5 percent (from 37 thousand 131 to 40 thousand 653) in December.

While the number of homes sold increased significantly in December, the number of homes sold was approximately 47,000 less than in May.