The investment value of Turkey's homes increased by 116% in just a year!
2022-04-18
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According to a report prepared by the Endeksa real estate platform, the rate of increase in house prices across Turkey was 116%, from one year until the end of February 2022.
An overview of apartment price changes in Turkey until the end of February 2022
In the details of the aforementioned report, the average price per square meter across Turkey until the end of February 2022 amounted to 6,847 TL.
While the average price of an apartment in Turkey amounted to 924,345 TL, and the average investment life for construction throughout Turkey was 19 years.
Mersin apartments prices rise by 160%!
In the details of the numbers of Turkey's states that sell the most apartments, Mersin ranked first as the state that witnessed the highest annual increase in the prices of its homes during one year, from February 2021 to its counterpart in 2022.
The rate of increase in the prices of Mersin houses during the mentioned period amounted to 160%, and the average price per square meter in Mersin houses reached 5,780 TL, while the average price of a residential apartment reached 867,150 TL.
Aydin apartments prices rise by 141%
Aydin came in second place with the increase in house prices, which amounted to 141% during the aforementioned period.
The price per square meter in Aydin houses was 10,172 TL, while the average price of a residential apartment in Aydin was 1,154,300 TL.
The price per square meter in Istanbul is 11,321 TL
The third place among the Turkish states that witnessed the highest annual increase in the price of their homes was Istanbul.
The annual increase in the prices of Istanbul houses reached 137%, and the average price per square meter of housing in Istanbul reached 11,321 TL, while the average house price in Istanbul reached 1,301,915 TL.
The 30 most Turkish states in the sale of apartments
The figures for the price increase in Turkey's 30 most selling states were as follows:
Rank
|
State
|
Number of homes sold during February 2022
|
Average price per square meter
(TL)
|
Average house price
(TL)
|
Annual percentage increase (%)
|
Average life of investment building (in years)
|
1
|
İstanbul
|
18752
|
11321
|
1301915
|
137,44
|
16
|
2
|
Ankara
|
8464
|
4966
|
670410
|
104,36
|
17
|
3
|
İzmir
|
5575
|
8903
|
1357800
|
108,26
|
19
|
4
|
Antalya
|
4727
|
9316
|
1180084
|
133,02
|
18
|
5
|
Bursa
|
3354
|
5983
|
807705
|
107,31
|
20
|
6
|
Kocaeli
|
2877
|
5324
|
718740
|
97,84
|
20
|
7
|
Mersin
|
2662
|
5780
|
867150
|
160,13
|
17
|
8
|
Tekirdağ
|
2405
|
4840
|
677600
|
116,85
|
17
|
9
|
Aydın
|
2218
|
10172
|
1154300
|
140,93
|
33
|
10
|
Balıkesir
|
2196
|
7558
|
982800
|
122,16
|
26
|
11
|
Gaziantep
|
2092
|
5979
|
950666
|
102,06
|
19
|
12
|
Konya
|
1908
|
4611
|
737760
|
106,77
|
21
|
13
|
Kayseri
|
1771
|
4080
|
673200
|
93,09
|
22
|
14
|
Sakarya
|
1762
|
5208
|
645792
|
96,31
|
20
|
15
|
Adana
|
1677
|
5525
|
911625
|
114,06
|
22
|
16
|
Samsun
|
1665
|
5489
|
768460
|
108,15
|
21
|
17
|
Hatay
|
1648
|
3878
|
597212
|
88,62
|
21
|
18
|
Şanlıurfa
|
1639
|
4315
|
755125
|
120,38
|
18
|
19
|
Manisa
|
1624
|
5133
|
641625
|
82,02
|
22
|
20
|
Muğla
|
1518
|
17736
|
2483040
|
122,34
|
18
|
21
|
Eskişehir
|
1343
|
5179
|
662912
|
85,03
|
21
|
22
|
Denizli
|
1316
|
5636
|
817220
|
90,99
|
22
|
23
|
Diyarbakır
|
1123
|
5103
|
816480
|
125,9
|
17
|
24
|
Yalova
|
1078
|
6101
|
791960
|
103,23
|
19
|
25
|
Elazığ
|
956
|
3413
|
569303
|
59,86
|
23
|
26
|
Kahramanmaraş
|
943
|
4381
|
700000
|
87,62
|
20
|
27
|
Trabzon
|
921
|
4789
|
766240
|
92,02
|
28
|
28
|
Ordu
|
782
|
4859
|
650972
|
97,44
|
26
|
29
|
Çanakkale
|
769
|
7596
|
910920
|
118,09
|
22
|
30
|
Erzurum
|
744
|
2943
|
484440
|
82,8
|
21
|
Turkey's homes have outperformed hard currencies in investment value
Commenting on the data of the aforementioned report, Mr. Görkem Öğüt, General Manager of Endeksa, said: "The main reason for the rise in Turkey's house prices is the significant increase in the internal and external demand for real estate investment, which has proven itself among the safest and most profitable means of investment. Homes have achieved an increase in investment value increased by 116% over the past year, while the increase in value during the same period amounted to 78% for the dollar and 65% for the euro.
Edited by Imtilak Real Estate ©
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