The share of home ownership in Turkey has decreased to 55.5%. That is, only half of a small number of households (families) have their own roof over their heads; the rest either rent apartments and houses, or live-in office, under certain conditions.
According to a study conducted by the Center for Economic and Social Research of the University of Bahcesehir (BETAM), a decrease in the number of homeowners in Turkey has been revealed in recent years. According to the statistics obtained, the level of home ownership in Turkey, which was 59% in 2010 (almost 2/3 of households), fell to almost ½.
In different categories of citizens, this indicator differs: in the group that includes families with a minimum income, the percentage of ownership decreased from 51.3% to 46% (5.3 percentage points). The largest drop was recorded in the middle-income group: from 58.5% to 52.8% (5.7 percentage points). In the group with above-average income, the decrease was 4.3 percentage points: here the indicator decreased from 70.4% to 66.1%.
The reason is obvious: the ratio of the average level of housing prices and the average family income has changed markedly over the past few years. Now the growth of citizens' incomes is much lower than the growth of housing prices.
On the other hand, during the study, the level of home ownership in Turkey was compared with the situation of citizens of Hungary, Poland, Romania, Mexico, Chile, Switzerland and Germany. It is curious that the percentage of households owning their own apartment or house in Turkey is higher than in Germany and Switzerland, where this figure is 44% and 38%, respectively, with incomparably higher incomes.
The TOP 3 countries with the largest number of homeowner families included Romania, Hungary and Poland: there, this figure is 97%, 88% and 79%, respectively. Despite the fact that the per capita income (in terms of price structure) is about the same as in the Republic of Turkey.
Earlier we wrote that the real estate tax will increase by 60% in 2023.