New housing price and real estate index released in March results

The new housing price index was published in March 2017. According to the report, house prices in March rose by 1.16 percent. The highest growth was registered in Bursa from 2.11 percent. The real estate index was calculated on the basis of prices for residential real estate in 68 provinces, 242 districts and 1,202 quarters in Turkey.

According to the price index for real estate in Turkey, housing prices in Bursa increased by 2.11 percent in March. During the same period, housing prices fell in Chankiri, and growth was only 1.04 percent. Sales to foreign buyers grew in March. Over the past 6 months, it has grown by 10 percent.

According to the report, in March the prices for residential projects in Istanbul on the European part grew by 0.28 percent, and the projects prices of the Anatolian side went up by an average of 0.06 percent. Consumers who bought houses used bank loans in March at a rate of 33 percent. The level of use of bank loans, which was 15 percent in November and 27 percent in December 2016, rose to 48 percent in February 2017, reaching its highest level in the last year.

 in March, 33 percent of residential property was sold, and 67 percent were unfinished housing projects. In March, in comparison with the previous month, sales of housing type 1 + 1 decreased by 0.51, type 2 + 1, 0.40, apartments type 3 + 1 0.51 and sales type 4 + 1 increased by 0.33%.