Prices for residential real estate in the largest Turkish metropolis are "going" to another record. Thus, according to the housing price index for October 2022, announced by the Central Bank of the Republic of Turkey (the index is published belatedly), the average price per square meter of residential real estate in Istanbul has increased to $1,432.
Housing prices in Turkey continue to grow rapidly not only in lira, but also in dollar terms; that is, it's not just about inflation. In August, another record was broken when the average cost of a "square" in the whole country reached $835. In September, it rose to $ 866, in October - $891, coming close to nine hundred.
Moreover, in the entire history of observations, the highest price per square meter of housing in the metropolis of Istanbul was $1,479 in September 2016; at that time, the interest rate on a housing loan at that time was 12.09%. As of October 2022, this is already 20.98%.
Recently, Istanbul has been inferior to other world capitals in real estate sales, although it is leading in Turkey.
At the same time, there is no free housing for rent in the metropolis during the day with fire; so soon the owners of empty apartments and houses (those that are not rented, and in which no one lives) expect an increased property tax.