Real estate experts in Turkey: an increase of nearly 40% in the prices of apartments

The real estate market in Turkey witnessed a significant increase in the prices of apartments, coinciding with a huge rise in rents during the month of August 2021.

Real estate experts in Turkey: an increase of nearly 40% in the prices of apartments
1,067
2021-09-21 Last update 2021-09-29

Real estate experts in Turkey: an increase of nearly 40% in the prices of apartments

Anadolu Agency has prepared a report that highlights the real estate market in Turkey and looks at the rates of increase in the prices of apartments in various Turkish states, and the significant rise in rents in Turkey in general. Follow the details through Imtilak Real Estate.

An overview at real estate prices in Turkey in terms of sale and rent

According to a report entitled: "A Look at the Apartment Market" prepared by Anadolu Agency, the real estate market has witnessed a significant increase in the prices of apartments in Turkey during the past months, coinciding with the significant increase in house rents in the Turkish real estate market, especially in major cities .

This large increase in house rents was attributed by experts to many reasons, the most important of which is the great demand for the purchase of residential apartments, which led to the demand for it exceeding supply, in light of the delay in some projects in light of the Coronavirus crisis.

Not to mention the return of education to its normal state, which resulted in a great demand for rents in cities that host large numbers of students in their educational institutions, in addition to many other reasons that cannot be mentioned now.

Real estate market in Turkey

The increase in house rents is close to 35%

In the details of the figures mentioned in the report, the rate of increase in house rents throughout Turkey during the year of August 2021 was 34.6%, as the average rent per square meter throughout Turkey during August 2021 amounted to 34.6 TL.

Mersin ranked first among the Turkish states, which witnessed the largest increase in the rents of its homes during the mentioned period by 63.6%, and the average rent per square meter in this state during the month of August 2021 amounted to 20.9 TL.

Diyarbakir came in second place, with an increase in house rents of 54.5%, and the rent per square meter in it during August 2021 amounted to 14.2 TL.

Kayseri came in third place, with an increase of 54.3%, while the rent per square meter in August 2021 amounted to 10.3 TL.

شقق للبيع بالتقسيط انجليزي شقق للبيع بالتقسيط انجليزي

The top five ranks were as follows:

Rank
Province
Average rent per square meter during August 2020
Average rent per square meter August 2021
Annual change in rent per square meter
1
Mersin
11 TL
18 TL
63.6%
2
Diyarbakir
9.2  TL
14.2  TL
54.5%
3
Kayseri
6.7 TL
10.3 TL
54.3%
4
Istanbul
21.1 TL
31.8 TL
50.7%
5
Tekirdag
10 TL
15 TL
50%

As for the five states that witnessed the least increase in the rent of their homes, during a year from August 2021, they are shown through the following table:

Rank
Province
Average rent per square meter during August 2020
Average rent per square meter August 2021
Annual change in rent per square meter
1
Van
11.7 TL
12.9 TL
10.5%
2
Eskisehir
12.7 TL
14.6 TL
14.3%
3
Ordu
9 TL
10.8 TL
21%
4
Mardin
7.6 TL
9.3 TL
21.4%
5
Aydin
13.6 TL
16.7 TL
22.2%

real estate in Turkey

The major states lead Istanbul in the rate of rising rents

In the figures related to house rent changes during the month of August of this year, Istanbul topped the three major states in the rate of rent increase, with a monthly increase of 8.4%, and an annual increase of 50.7%.

It was followed by Ankara with a monthly increase of 1.8% and an annual increase of 31.8%, then Izmir with a monthly increase rate of 6.8%, and an annual increase rate of 30.9%.

Rank
Province
Average rent per square meter during August 2020
Average rent per square meter August 2021
Annual change in rent per square meter
1
Istanbul
21.1 TL
31.8 TL
50.7%
2
Ankara
11.7 TL
15.4 TL
31.8%
3
Izmir
16.7 TL
21.8 TL
30.9%

The increase in selling prices is close to 40%

According to the mentioned report, the average increase in apartment prices throughout Turkey during the year of August 2021 was 38.9%, and the average price per square meter throughout Turkey during August 2021 amounted to 4,382 TL.

The state of Aydin ranked first among the Turkish states that witnessed the largest increase in the prices of its apartments during a year from August 2021 with a rate of 68.7%, while the average price per square meter during the month of August of this year reached 5,750 TL.

Mugla State came in second place, with an increase of 60.5%, with an average price of 10,357 TLper square meter, and Şanlıurfa state came in third place, with an increase of 53.5%, and an average price of 2500 TL per square meter.

الجنسية التركية انجليزي الجنسية التركية انجليزي

The following is a table showing the top five rankings of the Turkish states, which achieved a major increase in the price of their apartments during the year of August 2021:

Rank
Province
Average rent per square meter during August 2020
Average rent per square meter August 2021
Annual change in rent per square meter
1
Aydin
3,407 TL
5,750 TL
68.7%
2
Mugla
6,455 TL
10,357 TL
60.5%
3
Şanlıurfa
1,629 TL
2,500 TL
53.5%
4
Balikeser
3,090 TL
4,611 TL
49.2%
5
Mersin
2,172 TL
3,192 TL
47%

As for the five states that witnessed the lowest rate of increase in the prices of their apartments during a year from August 2021, they were as follows:

Rank
Province
Average rent per square meter during August 2020
Average rent per square meter August 2021
Annual change in rent per square meter
1
Kocaeli
2,449 TL
3,125 TL
27.6%
2
Van
2,031 TL
2,600 TL
28%
3
Kayseri
1,944 TL
1,516 TL
29.4%
4
Manisa
2,481 TL
3,233 TL
30.3%
5
Malatya
1,931 TL
2,525 TL
30.8%

Great demand for Istanbul real estate

In the details of the figures related to the three major states, Istanbul topped the three major cities in the percentage of demand for its real estate during the month of August of this year, with an estimated increase of 3.8%, compared to the percentage of demand in the same month last year, neighboring Ankara with an equal increase, followed by Izmir at a rate An increase of 3.5%.

Istanbul real estate also topped the three largest Turkish states with an increase in apartment prices during the year of August 2021 by 28.9%, followed by Ankara with an increase of 22.6% and Izmir with an increase of 23.1%.

Rank
Province
Average rent per square meter during August 2020
Average rent per square meter August 2021
Annual change in rent per square meter
1
Istanbul
10,000 TL
13,000 TL
28.9%
2
Ankara
3,678 TL
4,509 TL
22.6%
3
Izmir
2,617 TL
3,223 TL
23.1%

prices of apartments in Turkey

 

Edited by Imtilak Real Estate©

Reference: Anadol

Did you like this topic? You can share it with your friends now.

More from Imtilak
Sponsored by Imtilak Real Estate | The Real Estate Promotion Association launches its strategic plan until 2025

Sponsored by Real Estate Ownership Founding Member of the Association for Overseas Real Estate Promotion, the Associatio...

2021-07-07
2,709
High demand for construction permits in Turkey in 2021

32,832 construction permits were granted during 2020 in Turkey, an increase of approximately 132%, given the same period...

2021-05-25
3,116

Privacy Policy

We use cookies to offer you the best possible user experience, learn more about how to use them