Increase in housing prices hit a new record-high in Turkey in December

The prices of new houses increased by 66.6 percent when compared to last December, according to the Central Bank. The prices of the houses that were not new also saw a 57.7-percent annual increase in December 2021.

İstanbul

Increase in housing prices hit a new record-high in Turkey in December

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According to the Housing Prices Index of the Central Bank, the housing prices increased by 59.59 percent in Turkey in December. As reported by Bloomberg HT, this is the sharpest increase in history.

The same index has shown that in the same month, the real increase in housing prices stood at 17.9 percent.

The monthly increase in housing prices was 8.99 percent.

When compared to the same month of the previous year, December 2020, the prices of new houses increased by 66.6 percent while the prices of houses that were not new increased by 57.7 percent.

According to the index of the Central Bank, the housing prices in İstanbul increased by 63 percent in December. While the rate of increase was 55.7 percent in the capital city of Ankara, the housing prices saw a 58.3-percent increase in the Aegean province of İzmir.

When the housing prices per square meters are considered, it is seen that the 10,000-lira threshold has been crossed in İstanbul. While an average of 4,563 lira was asked per square meter in Ankara in December, the amount was 7,497 lira for İzmir province.

Housing in Turkey

In September 2021, a group of people, mostly students, started keeping vigils at parks and on the streets in protests against the lack of vacancies at dormitories and high housing prices. "We Cannot Find Shelter" (Barınamıyoruz) Movement declared their requests as follows:

"Students should be able to stay in quality dorms without facing excessive prices, in houses by paying affordable rents and without compromising their life qualities and in larger and cheaper aparts."

The protests held by the Movement to raise publicity and concerns about the housing problem spread to several cities across Turkey.

On the other side, according to a study conducted by the Center for Spatial Justice (MAD) in August 2021, only 2 percent of the 38,829 houses for rent in İstanbul were "habitable houses" and there were no such houses in 8 districts. (AÖ/SD)