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Turkey's overall house prices increase by 9 pct

Turkey’s overall house prices increase by 9 pct

Ahmet Kayhan, the CEO of REIDIN – Emerging Markets Real Estate Information, shared the results of a study they conducted on the changes in house prices last year that show an overall increase of 9 percent.Turkey's overall house prices increase by 9 pct

Noting that Turkey’s overall housing prices, including first- and second-hand houses, increased by 9.1 percent on average, Kayhan said that the increase in new house prices remained at 2.9 percent. Kayhan said the annual price increase in apartments between 51 square meters and 75 square meters, the smallest apartment size group, is 5.2 percent, while the increase in 151 square meters, the largest apartment size group, and above remained very low during the same period with an average rise of 0.4 percent. Kayhan stressed that Balıkesir led the way with 25.9 percent in terms of the highest increase in house prices over the past year, followed by Kırklareli with 22.6 percent, Muğla with 19.8 percent, Çanakkale with 18.9 percent and Tekirdağ with 18.5 percent.

Touching on the provinces in which the prices have fallen or only slightly increased in the past year, Kayhan said that house prices decreased by 2 percent in Mardin, 0.5 percent in Kilis, and 1.1 percent in Şanlıurfa and Kars. Kayhan said that the Anatolian side has come to the fore when it comes to Istanbul’s districts with the area having the highest increase in prices last year.

Kayhan underlined that house prices in Maltepe increased by 21.9 percent in this period, followed by Üsküdar with an increase of 21.2 percent, Küçükçekmece and Şile with 20.5 percent and Pendik with 18.8 percent.

Pointing out that house prices decreased by 5.6 percent in Beyoğlu, 4.1 percent in Ataşehir and 1.7 percent in Kadıköy, Kayhan added that Sarıyer and Beşiktaş showed the lowest increase in housing prices with 0.3 percent and 0.5 percent, respectively.

February 26, 2017
Source: Daily Sabah


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