The Sun Rises From The East And The Houses From The West

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House prices in Turkey increased by 12.21 percent in 2016 and rose to about 50 percent of consumer inflation of 8.53 percent. With the year 2016, the uninterrupted increase in house prices has finished the 7th year. The prices related to the prices are being watched and published by the Central Bank since the beginning of 2010. If it were covered in 2009, the prices would probably have increased that year. Housing prices, which started to rise in 2003, and which have been stagnant in the first half of 2008 and 2009, have tended to recover later.

consumer-inflation-in-istanbul

The last 5-year increase in housing prices has also increased to 95.89 percent, double the consumer inflation of 45.65 percent in the same period. According to the data of TURKSTAT, the rent increase for 5 years is 41.95 percent, very close to consumer inflation. In addition to the appreciation in the house, there is also a rent income.

One of the most striking developments in 2016 was that Istanbul, which was the dragon of the housing sector, was beginning to fall behind other provinces and regions in price increases. Istanbul, with an 11.59 percent price increase, also fell below the Turkish average. However, the cumulative increase in the last five years still stands at 138 percent.

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