Annual value increase in housing sales prices as of November in Turkey at 185%
The average housing price in Turkey as of the end of November was 1 million 720 thousand 160 TL. According to TÜİK figures, there were 117 thousand 806 housing sales in November in Turkey. The number of housing sold in November increased by 15% compared to the previous month and decreased by 34% compared to the same month of the previous year. According to the data of Indeksa.com, the annual value increase in housing sales prices in Turkey as of November was 185%, while the average sales price of residential square meters throughout Turkey was 13 thousand 232 TL, the average housing price was 1 million 720 thousand 160 TL. In November, Istanbul stood out as the province with the highest share of 19,687 housing sales and 17% in housing sales. The provinces with the highest value increase are Antalya, Kocaeli and Istanbul, respectively.

In November, 117 thousand 806 housing sales were carried out throughout Turkey. Residential sales increased 15% in November compared to the previous month, down 34% compared to the same month of the year before. According to data from Indeksa.com, which offers real estate value accounts with artificial intelligence, the annual value increase in housing sales prices in Turkey as of November was 185%. The average sales price of residential square meters throughout Turkey was 13 thousand 232 TL, the average housing price was 1 million 720 thousand 160 TL, and the return period of housing investment was 19 years.

Istanbul with the highest share 19 thousand 687 housing sales

Istanbul had the highest share in housing sales in November, with 19 thousand 687 units and 17% rate. According to sales numbers, Istanbul was followed by Ankara with 9 thousand 367 housing sales and 8% share, Antalya with 7 thousand 902 housing sales and 7% share. According to the index data, as of the end of November, the annual value increase in housing sales prices in Istanbul is 203%, the average sales price per square meter is 22 thousand 49 TL, the average housing price is 2 million 645 thousand 880 TL. Housing prices in Ankara increased 188% in the last year, the average sales price per square meter was 9 thousand 833 TL and the average housing price was 1 million 278 thousand 290 TL. In Antalya, the annual value increase is 217%, the average housing square meter sales price is 19 thousand 254 TL, the average housing price is 2 million 310 thousand 480 TL.

The provinces with the highest value increase are Antalya, Kocaeli and Istanbul

According to Endeksa data, Antalya, Kocaeli and Istanbul were the provinces with the highest annual value growth when the first 30 provinces with the highest residential sales were evaluated in November. Housing prices in Antalya increased by 217% in the last year, while the average sales price of square meters of housing was 19 thousand 254 TL and the average housing sales price was 2 million 310 thousand 480 TL. In Kocaeli, the value increase in housing sales prices amounted to 207%. The average sales price per square meter of housing was 11 thousand 361 TL, the average housing price was 1 million 476 thousand 930 TL. In Istanbul, housing sales prices increased by 203%, average housing square meter sales price 22 thousand 49 TL, average housing price 2 million 645 thousand 880 TL.

November 2022 Housing Sales

Share in Total Sales (%)

Average Sq. Meter Sales Price (TL/m2)

Average Sales Price (TL)

Return Time (years)

Annual Value Change (%)

Istanbul

19 687

17

22.049

2.645.880

19

203

Ankara

9 367

8

9.833

1.278.290

18

188

Antalya

7 902

7

19.254

2.310.480

14

217

Smyrna

6 366

5

17.181

2.233,530

22

186

Bursa

4 304

4

11.555

1.548.370

30

186

Myrtle

3 468

3

11.397

1.595.580

35

197

Gaziantep

3 243

3

9.552

1.471.008

22

116

Konya

2 764

2

8.383

1.341.280

21

153

Kocaeli

2 697

2

11.361

1.476.930

21

207

Kayseri

2 532

2

6.882

1.135.530

25

137

Tekirdag

2 506

2

9.941

1.391.740

20

201

Balıkesir

2 488

2

13.937

1.672.440

35

157

Aydin

2 264

2

17.859

2,500.260

29

165

Sanliurfa

2 117

2

7.423

1.261.910

25

137

Adana

2 036

2

10.434

1.659.006

28

154

Samsun

2 009

2

10.373

1.431.474

25

163

Manisa

1 927

2

9.344

1.168,000

23

146

Sakarya

1 888

2

10.366

1.285.384

21

174

Eskisehir

1 880

2

9.821

1.227.625

22

155

Hatay

1 817

2

7.691

1.153.650

25

168

Mugla

1 660

1

31.089

4.041,570

28

154

Diyarbakir

1 628

1

8.583

1.373.280

24

134

Denizli

1 544

1

10.389

1.412.904

22

162

Kahramanmaras

1 344

1

7.761

1.241.760

27

133

Yalova

1 152

1

12.592

1.624.368

28

196

Malatya

1 015

1

7.331

1.209.615

28

164

Trabzon

974

1

9.733

1.557.280

28

182

Elazig

973

1

5.732

945.780

44

116

Erzurum

968

1

5.616

932.256

24

142

Army

962

1

9.420

1.271.700

27

172

Mortgage housing sales increased 26%

Mortgage housing sales across Turkey increased 26% compared to the previous month in November and fell by 58% compared to the same month of the previous year and amounted to 16,655. In total residential sales, the share of mortgage sales amounted to 14%. Sales of mortgage housing in the January-November period amounted to 258 thousand 524, an increase of 4% compared to the same period of the previous year.

The number of first-hand housing sales was 37 thousand 380

Second-hand housing sales decreased by 35% in November compared to the same month of the previous year and amounted to 80 thousand 426. In total housing sales, the share of second-hand housing sales was 68%. Second-hand housing sales in the January-November period amounted to 895,000 469, an increase of 2% compared to the same period of the previous year.

Second-hand residential sales decreased 35%

Second-hand housing sales decreased by 35% in November compared to the same month of the previous year and amounted to 80 thousand 426. In total housing sales, the share of second-hand housing sales was 68%. Second-hand housing sales in the January-November period amounted to 895,000 469, an increase of 2% compared to the same period of the previous year.

Sale of housing to foreigners 6 thousand 83 units

Residential sales to foreigners decreased by 17% compared to the same month of the previous year in November and amounted to 6,000 83. In November, the share of housing sales to foreigners was 5% in total housing sales. Antalya took the first place in the sales of housing to foreigners with the sale of 2 thousand 616 housing. Istanbul was followed by Mersin with 567 housing sales, respectively, with the sale of one thousand 733 houses in Antalya.

Görkem Ögüt, Co-Founder and General Manager of Indeksa.com, evaluating the data, said, “Although the number of housing sales in November increased compared to the previous month, it declined compared to the same month last year. When we evaluate the January—November period, we see an increase of 1% compared to the same period last year, with 1 million 277 thousand 659 housing sales. The real estate sector is one of the most important sectors of our country. Like many sectors, the real estate sector has been very affected by the pandemic. In the process that began with the pandemic, there was a significant increase in prices due to increased production costs and low inventory, in spite of the increase in demand. According to Endeksa data, as of the end of November, the value increase in housing sales prices across Turkey was 185%. Although the number of sales in November was lower than last year due to the expectation of a decline in the market due to rising prices and the restriction of credit use, we see that real estate retains its importance.”

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