ISTANBUL HOUSING MARKET REPORT APRIL 2023 NO:27

LINK TO DOWNLOAD THE REPORT  MINTLAB_APRIL 2023 NO 27

When Residential Property Price Index published by Central Bank of the Republic of Turkey for February is analyzed, it could be seen that all across Istanbul there was a nominal increase in housing prices by 7,64% monthly; 29,99% half-yearly; 138,38% annually, and 85,31% 5 yearly. It could be said that in the long run real return in Istanbul reflected positively. On the other hand, our Istanbul residential property price index expectation change for March is +3,45%.(Source : TUİK&TCMB)

LINK TO DOWNLOAD THE REPORT  MINTLAB_APRIL 2023 NO 27

Housing prices in Istanbul were calculated as 31.802,20 TL/m2 and 1.668 U.S. Dollars/m2 as of February. Housing prices increased by 130% in local currency and increased by 67% in U.S. Dollars compared to the same month of last year. The level of «House Sales Volume» calculated by MintLab considering number of housing sales and average sales prices in Istanbul in February 2023 is 47,6 billion TL.(Source : TUİK&TCMB)

LINK TO DOWNLOAD THE REPORT  MINTLAB_APRIL 2023 NO 27

On the other hand, the «Housing Total Return Index (2017 January = 100)» prepared by MintLab, tracks both the capital gains as well as rental yields. The Index increased 1.207,3 points; which represents an increase of 3,90% in April 2023.(Source : TUİK&TCMB)