Record Rise In House Prices: Mugla And Antalya In First Place
RECORD RISE IN HOUSE PRICES: MUGLA AND ANTALYA IN FIRST PLACE
House prices rose 30.4 per cent year-on-year in January, breaking a record in data history. In regions including Mugla and Antalya, the favorite of the pandemic, price growth exceeded 42 percent.
House price growth in Turkey broke the record in data history with an annual rate of 30.4 percent in January 2021.
The January January 2010 central bank data showed the house price index rose 1.8 percent in January 2021 compared to the previous month and 30.4 percent compared to the same month the previous year. The annual rate of real growth (inflation-free growth) was 13.5 percent.
PRICE RISES DESPITE INTEREST RATE RISE
Although house sales fell due to interest rate increases, the rapid growth in house prices continued.
The number of homes sold in January was 70,587, a decrease of 37.9 percent compared to the same period last year. Mortgage home sales, on the other hand, were 10,732, down 74.6 percent from the same month of the previous year.
Home loan interest rates, which fell to an average of 9 percent in June 2020, are currently at 17.75 percent.
AMONG THE THREE MAJOR PROVINCES, THE MOST INCREASE IS IN IZMIR
The annual growth rate was 30.2 percent for new housing in Turkey and 30.3 percent for non-new housing.
Annual housing price growth rates were 27.7 percent in Istanbul, 29.3 percent in Ankara and 32.2 percent in Izmir.
The regions where house prices increased the most on an annual basis were the regions covering Aydin, Denizli and Muğla and the regions covering Antalya, Burdur and Isparta. The growth rates in these regions were 42.3 percent and 42.8 percent, respectively.
The lowest increase was 21.9 percent in the region covering Erzurum, Erzincan and Bayburt.
Prices increased by 1.5 percent in Istanbul and 1.1 percent in Ankara on a monthly basis in January, and increased by 4 percent in Izmir.
ANTALYA AND MUĞLA SUMMIT
Antalya and Muğla, which are located in the regions where price increases are most common, were at the beginning of the provinces where citizens turned to the purchase of housing during the period of the corona virus epidemic.
Many citizens went to their summer homes in these provinces during the quarantine period, while many citizens went to buy or rent summer housing in this region.