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Home price growth in small towns is outpacing inflation

May in Turkey CPI figure was announced and annual inflation peaked at 74.45%. Annual inflation is expected to trend downward from June onwards. In the first phase, a drop of up to 50 percent in the CPI is expected. high interest rate policy The side effects manifest themselves in the form of a slowdown in the housing market, sales and prices.

The annual average price increase of homes throughout Türkiye has been below the annual inflation rate in recent months. by CBRT According to the announced housing price index dataset, the annual average increase was 58.30% in February and 52.00% in March. In these two months, the annual CPI was 67.07% and 68.50% respectively.

Ardahan is at the top when it comes to house prices

housing

real estate platform ENDEKSA According to May 2024 data announced by Ardahan, house prices rose year-on-year. 110% With this increase, it became the province where house prices rose the most. It was notable that among the provinces in the top 10, there were provinces that were not within the scope of the metropolitan cities.

Here’s the list in the top 10 Our provinces are:

City Average square meter price Annual increase in value
Ardahan 16,451TL 110.18%
igdır 17,870TL 98.25%
Tunceli 23,071TL 97.39%
bitlis 15,150TL 88.08%
Bayburt 17,774TL 86.43%
Gumushane 17,763TL 85.57%
Ornamental 12,713TL 81.82%
Report 14.231TL 81.10%
Erzincan 19,576TL 79.96%
Pain 13,001TL 78.02%

According to ENDEKSA data In May 2024 Over the past year, home price change in three metropolitan cities remained below the CPI. While house prices in Istanbul increased by 48.99 percent, this rate was 55.31% in Ankara and 46.61% in Izmir. A real decline was observed during the said period, as the annual price increase remained below the annual CPI in three major cities.

Source: Web Tekno

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