Housing Price Index Increased By 12 Percent in 2016

The Central Bank of the Republic of Turkey (CBRT) announced the Housing Price Index (KFE) for December 2016. Accordingly, December increased by 0. 81 percent compared to the previous month and was 225.87. KFE, which increased by 12.22 percent compared to the same month of the previous year, increased by 3.40 percent in real terms in the same period. Unit prices, which are calculated as housing value per square meter, were TL 767.19 per square meter in December 2015 and TL 943.82 per square meter in December 2016. The New Housing Price Index (YKFE) realized at 216.35 in December 2016, up 0.85 percent compared to the previous month. The index increased by 11.23 percent compared to the same month of the previous year and by 2.49 percent in real terms.

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When the developments in the housing price indexes of the three major provinces are evaluated, an increase of 0.74 percent, 0.59 percent and 1.23 percent respectively in Istanbul, Ankara and İzmir in December of 2016 compared to the previous month. The index values ​​increased by 11.59, 9.02 and 17.56 percent in Istanbul, Ankara and İzmir respectively compared to the same month of the previous year. When price indices of new housing prices for the three major provinces are evaluated, an increase of 0.48 percent, 1.13 percent and 0.87 percent were recorded in Istanbul, Ankara and İzmir, respectively, in December 2016 compared to the previous month.

The index values ​​increased by 12.32, 12.28 and 16.00 percent in İstanbul, Ankara and İzmir respectively compared to the same month of the previous year. When the annual percentage changes in housing price indices at 26 level 2 for December 2016 are examined, the highest annual change in KFE is TR22 (Balıkesir and Çanakkale) with 26.89 percent, TR21 with Edirne, Kırklareli and Tekirdağ (Kilis, Adıyaman and Gaziantep), TRA1 (Erzurum, Erzincan and Bayburt) with 2.62 percent, and TR61 (Erzincan and Bayburt) with the lowest annual change of -0.28 percent 2.80 with TRC2 (Diyarbakir and Sanliurfa) was seen.

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    fatma Written by:

    Fatma Şahin fatmasahin@istanbulinvestments.com

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