House prices rose 141.5 percent in one year
The Central Bank (CBRT) announced the House Price Index (KPI) data for February 2023, when the great earthquake disaster occurred.
Consequently, the KPI, which increased 8.4 percent in February 2023 compared to the previous month, increased 141.5 percent compared to the same month last year.
Although house prices fell on a yearly basis, the monthly inflation series increased to month 49 in February. The highest monthly increase in 8 months was recorded in February.
In the same period, house prices in Izmir increased by 142.6%, above the national average, while this rate was 142.1% in Ankara and 138.3% in Istanbul.
In Adıyaman, Malatya, Hatay, Kahramanmaraş and Osmaniye, the index was accepted as constant due to earthquakes. (Source: CBRT)
ZONGULDAK, KARABUK AND BARTIN ARE IN THE TOP 3 IN GROWTH
The largest increase in February was seen in Antalya, Burdur and Isparta with 174.3 percent. Edirne, Kırklareli and Tekirdağ followed with 166.2 percent and Zonguldak, Karabük and Bartın with 163 percent.
AN AVERAGE HOUSE IN THE COUNTRY INCREASES TO 2 MILLION TL
Although prices per square meter across the country were 18,682 TL in January, they increased to 20,493 TL in February.
Thus, the average price of a 100-square-meter house across the country reached TL 2,49,300 in February, and the TL 2 million limit was exceeded for the first time.
EXCEEDED 3 MILLION TL IN ISTANBUL
In Istanbul, while prices per square meter were 28,910 TL in January, they increased to 31,802 TL in February.
In other words, the average price of a 100 square meter house in Istanbul increased to TL 3,180,200, surpassing TL 3 million for the first time in February.