Pot Price Increase Speed Cut!

According to the index data, the average price per square meter of residential land in Turkey is TL 574 thousand, the average price is 887 thousand 736, the annual value increase is 92%, the 4-year value increase is 239% took place. Because of the recent rise in housing prices too much, people who wanted to preserve their assets, but who did not have enough economic status to buy a house, turned to land investment. This also caused land prices to rise. When we examine the increase in land prices on a monthly basis, we see that the pace has slowed but the increase continues.

5 Land Prices in the Big Province

Sharing his views on the recent situation in land prices, Endeksa Co-Founder and General Manager Görkem Ögüt said: “The increase experienced globally due to the deterioration of supply chain during the pandemic period If we put aside, the rapid price increases in the housing market are basically due to the deterioration of the supply and demand balance. The social housing project aims to improve this supply and demand balance with affordable housing and land projects. The 1 million residential land project is also important in terms of supply and demand balance The effect will be limited if in the middle upper segment in the middle lower income group, because it targets a certain level of income. Considering the current situation of the real estate market, I do not expect there to be a serious decline in land prices in the short term, but as the application area of the project increases, the supply and demand balance I think it will contribute to his recovery.”

Referring to the relevance of the slowdown in the growth rate with the “First Home Land” project, Öğüt; We cannot relate the decrease in growth rate with this project alone. The slowdown of speed is a situation that has been going on for some time. When we examine the trend on a monthly basis, we see an increase of 6.15% in June, after this increase, the pace has decreased regularly, up to 2.74% in September. We will observe the impact of the land campaign on prices in the coming period.”