House prices rose 121.3 percent in one year
The Central Bank (CBRT) announced the House Price Index (KFE) for April 2023.
Consequently, the KPI, which increased 4.7 percent in April 2023 compared to the previous month, increased 121.3 percent compared to the same month last year.
While house prices rose 114.1 percent in Istanbul in April, they rose 123 percent in Izmir and 126.1 percent in Ankara.
Home prices nationwide rose 153.1 percent in January, 141.5 percent in February and 132.8 percent annually in March. Thus, the slowdown in the rate of rise in house prices also continued in April.
The cost of a 100 square meter house in Istanbul increased to 3.5 million TL as of April. (Source: CBRT)
HIGHEST INCREASE IN ZONGULDAK, KARABUK AND BARTIN
The provinces with the highest annual increase in April were Zonguldak, Bartın and Karabük with 147 percent.
This is Edirne, Kırklareli, Tekirdağ with 143.2 percent; Çankırı, Kastamonu and Sinop followed with 142.2 percent.
EVEN AN AVERAGE HOUSE IN THE COUNTRY 2.2 MILLION TL
The price per square meter of a house in Turkey increased to TL 22,841 as of April. In other words, the average cost of a 100-square-meter house across the country has reached 2,284,100 TL.
While the prices per square meter in Ankara increased to 16,800 TL from April; It increased to 26 thousand 582 TL in İzmir.
In Istanbul, the prices per square meter rose to 35 thousand 114 TL from April. As of April, the cost of a 100 square meter house in Istanbul increased to 3.5 million TL.