Districts with the highest housing prices in Istanbul

IMM Deputy General Secretary Dr. Buğra Gökce shared on his social media account the data showing the changes in housing prices in one year in Istanbul districts and drew attention to the increase in prices and the reasons for this.

Comparing the data for August 2022 and August 2023, Gökce noted that housing sales, which were 17,408 in 2022, decreased by 6 percent to 17,408 in 2023.

SARIYER RANKS FIRST IN CARO

Noting that the average house price in Istanbul increased to 4 million 677 thousand in August, Gökce said: “The district with the highest average house price is Sarıyer. Sarıyer is followed by Beykoz and Kadıköy. Our lowest district is Esenyurt. “Housing sales prices in 27 districts are below the Istanbul average,” he said.

Stating that the average home sales price in Istanbul increased by 68 percent, above inflation, Gökce said: “Due to the fact that wages and income of wage earners increased at a much lower rate, today in “It is more difficult for employees to access housing today compared to last year.”

THE INCREASE IN PRICES CAUSES A HOUSING CRISIS

Emphasizing that rising housing prices caused the housing crisis, Gökce said:

“*The increase in housing prices confronts us with dispossession, restricted access to housing and an increasingly deepening real estate crisis.

*Due to continued home sales to foreigners and macroeconomic conditions, housing demand continues to exceed the natural balance.

*Therefore, we attach importance to the production of social housing to increase resistance to Istanbul earthquakes and protect the right to housing expressed in our constitution. The production of dormitories and social housing is an important tool that will regulate market balances and protect the housing rights of our citizens.

*Due to the insufficient production of social housing and the lack of an integrated housing policy that includes the use of public social housing or social rental housing, the housing crisis is becoming deeper, our citizens’ access to Housing continues to decline and the price of housing Opportunities for employees and workers in Istanbul continue to disappear.

*Unfortunately, the real estate market is dominated by rental-oriented practices, not public policies. “We hope these practices will change.”