ISTANBUL HOUSING MARKET REPORT NOVEMBER 2022 NO:22

ISTANBUL: NOMINAL ANNUAL RETURNS OF RESIDENTIAL & FINANCIAL INVESTMENTS

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Specific to Istanbul, total returns including capital gain and gross rental income in September reached 5,01% monthly and 217,03% annually. In the retrospective 12 years as of September 2022, total returns of housing investments in Istanbul (29,50%) was higher than the financial investment tools.(Source : TUİK&TCMB)

                                       ISTANBUL: HOUSING UNIT PRICES (TL/M2 & USD/M2)

LINK TO DOWNLOAD THE REPORT MINTLAB_NOVEMBER 2022 NO 22

Housing prices in Istanbul were calculated as 25.714,80 TL/m2 and 1.405 U.S. Dollars/m2 as of September. Housing prices increased by 242% in local currency and increased by 59% in U.S. Dollars compared to the same month of last year.(Source : TUİK&TCMB)

LINK TO DOWNLOAD THE REPORT MINTLAB_NOVEMBER 2022 NO 22

In Istanbul in October 2022, 1.658 houses were sold to foreigners. Sales in Istanbul were 31% of the total houses sold to foreigners in Turkey. On the other hand, the level of sales in October were lower 137 houses than the last month. It could be said that there was a correlation of +0,73 between the exchange rate and the housing sales to foreigners.(Source : TUİK&TCMB)