Flying Saucer in Istanbul! Here are the price increases by some districts :
The average house price for sale in Turkey, which was 924 thousand liras in February last year, exceeded 2 million 146 thousand liras as of the end of February 2023. It was noted that the remarkable rise was more visible in February with the demand created by the earthquake effect.
Flying Saucer in Istanbul Here are the price increases according to some districts.
DUYGU ERDOÄžAN - While the exorbitant increases in housing rents continue to be on the agenda, it has been observed that the remarkable increases in houses for sale every month have moved to a new level on an annual basis. Due to the increasing demand, there are instant price increases in the advertisement sites for the houses for sale. In the annual comparison made within the scope of February with the effect of earthquakes, the inevitable increase in the prices of houses for sale shows itself.
According to this, while the average of the housing ads for sale in Istanbul in February 2022 was 1 million 302 thousand, this average price exceeded 3 million 105 thousand liras in February 2023. Accordingly, the 1-year price increase in Istanbul was realized as 156 percent . While the average house price for sale was 924 thousand in Turkey in February 2022, this average price exceeded 2 million 146 thousand in February 2023. The average housing price increase in Turkey has exceeded 162 percent.
EARTHQUAKE EFFECT :
According to Endeksa data, which handles these advertisements with artificial intelligence, it is seen that the increases in the prices of houses for sale, which have been experienced for two years, have accelerated in recent months. The average price increase in the first 2 months of the year exceeds 350 thousand liras.
It is estimated that the new demand created by those living in earthquake zones and the new movement of people in risky cities are effective in this rapid rise. According to the evaluations, it is seen that the rises have spread throughout Turkey, even though the major cities have the greatest effect on price increases.
KOCAELI AND TEKIRDAG :
In general, monthly and annual comparisons show that Istanbul, Mersin, Antalya and MuÄŸla provinces have experienced high price increases for the last two years. However, Kocaeli, TekirdaÄŸ and Yalova, along with Antalya, were among the provinces that experienced a high annual increase in value in the last period due to the demand of EYT members and then the earthquake effect. It has been recorded in the data that the price increases in these areas are also very fast, with the choice of those who are looking for both easy-to-reach and lower-floor settlements near Istanbul.
Flying Saucer in Istanbul Here are the price increases according to some districts.
3 YEARS ADVANCED IN 2 MONTHS.
The increase in the value of the houses for sale also shortens the return account of the price paid for these houses. The last two months' data shows that this return account is also progressing fast. In December 2022, the average housing price in Turkey was at the border of 1 million 797 thousand. The return period of the housing investment was calculated as 19 years. As of February 2023, the average housing price in Turkey has exceeded 2 million 146 thousand liras. For this reason, the return period of housing investment was shortened by three years in two months and became 16 years.
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