Price indices for the real estate market in Turkey 2020

After the Covid-19 phase, Turkey's real estate market has seen record sales, especially in apartment sales. Follow details on Imtilak Real Estate.

Price indices for the real estate market in Turkey 2020
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2020-09-15 Last update 2021-03-15

Price indices for the real estate market in Turkey 2020

According to a report from the Turkish Hurriyet Emlak’s website, which specializes in real estate, Turkey's real estate sector has seen unprecedented movement in the last months of 2020.

Price index in Turkey's real estate market for August 2020

The real estate market in Turkey has seen unprecedented movement in the last months of this year, which followed the recession, caused by the Covid-19 pandemic, and manifested itself in record sales figures in the real estate sector in general, and in apartments sales in particular.

After reducing the interest rate for residential loans, apartment sales in Turkey have reached figures that some experts have described as historical, and this increase in demand has had to reflect on real estate prices.

All these changes were monitored by the Turkish Hurriyet Emlak’s website, which specializes in real estate affairs, and has prepared a report examining changes in real estate prices in Turkey in general, according to its own index. The report focused on the increase in the prices of the square meter condominium, classifying the Turkish provinces and their subordinate areas, according to the increase in the prices of the square meter.

Classification of Turkish provinces by real estate market prices in Turkey

According to the report, the province of Mugla ranked first in the real estate market, among Turkish provinces with the highest price per square meter, followed by Istanbul in second place, then Izmir and Antalya in the following table:

Rank
Province
Average price per square meter (August 2020)
1
Mugla
6057 TL
2
Istanbul
5058 TL
3
Izmir
3808 TL
4
Antalya
3725 TL

 

The provinces that experienced the greatest increase in the price of the square meter, according to the report, were as follows:

 

Rank
Province
Average price per square meter (August 2019)
Average price per square meter (August 2020)
Percentage increase in price within a year
 
1
Gaziantep
1734 TL
2661 TL
53.50%
2
Antalya
2463 TL
2526 TL
40.94%
3
Eskisehir
1812 TL
2526 TL
39.42%
4
Corum
1426 TL
1962 TL
37.56%
5
Sakarya
1687 TL
2277 TL
34.96%

 

The rates of price increases in the five largest states were as follows:

 

Rank
Province
Average price per square meter (August 2019)
Average price per square meter (August 2020)
Percentage increase in price within a year
 
1
Antalya
2643 TL
3725 TL
40.93%
2
Ankara
1878 TL
2426 TL
29.17%
3
Istanbul
4110 TL
5058 TL
23.06%
4
Izmir
3124 TL
3808 TL
21.89%
5
Bursa
2088 TL
2372 TL
13.60%

 

The regions with the largest increase in housing meter prices in all of Turkey were:

 

Rank
Area
Average price per square meter (August 2019)
Average price per square meter (August 2020)
Percentage increase in price within a year
 
1
Avcilar/Istanbul
1914 TL
4060 TL
112.14%
2
Sarıyer/Istanbul
9226 TL
18261 TL
97.92%
3
Dosemealti/Antalya
2014 TL
3921 TL
94.70%
4
Fethiye/Mugla
3535 TL
6718 TL
90.05%
5
12 Subat/Kahramanmaras
1270 TL
2200 TL
74.35%

 

For regions in Istanbul, the five largest price increases were as follows:

 

Rank
Area
Average price per square meter (August 2019)
Average price per square meter (August 2020)
Percentage increase in price within a year
 
1
Avcilar
1914 TL
4060 TL
112.14%
2
Sarıyer
9226 TL
18261 TL
97.92%
3
Basaksehir
3396 TL
5917 TL
74.23%
4
Beykoz
7044 TL
11667 TL
65.63%
5
Uskudar
4198 TL
6674 TL
58.98%

 

Edited by Imtilak Real Estate

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