Annual Value Increase in Residential Sales Prices 202% as of September Across Turkey

In September, there were 113 thousand 402 housing sales across Turkey. Residential sales decreased 8% in September compared to the previous month and 23% compared to the same month of the previous year. When evaluating the January-September period, it is seen that the number of housing sales amounted to 1 million 57 thousand 193, an increase of 11.4% compared to the same period last year. According to technology-oriented real estate valuation platform Endeksa data, the annual value increase in housing sales prices in Turkey as of September was 202%, while Turkey The average sales price per square meter of housing throughout was 11 thousand 972 TL, the average housing price was 1 million 556 thousand 360 TL, and the return period of housing investment was 19 years.

The top three lines in residential sales are Istanbul, Ankara and Izmir.

Istanbul had the highest share in residential sales in September with 19 thousand 89 residential sales and 17% rate. According to sales numbers, Istanbul was followed by 8,000 812 housing sales, Ankara with 8% share, 6 thousand 338 housing sales and Izmir with 6% share. According to the index data, as of the end of September, the annual value increase in housing sales prices in Istanbul was 241%, the average sales price of residential square meters is 20 thousand 208 TL, the average housing price is 2 million 424 thousand 960 TL. Housing prices in Ankara have increased by 212% in the last year, the average sales price per square meter is 9 thousand 47 TL, the average housing price is 1 million 176 thousand 110 TL. In Izmir, the annual value increase is 190%, the average housing square meter sales price is 15 thousand 362 TL, the average housing price is 1 million 997 thousand 60 TL.

The provinces with the highest annual value growth are Antalya, Mersin and Istanbul

According to the index data, when evaluating the first 30 provinces with the most residential sales in September, the provinces with the highest annual value growth are Antalya, Mersin and Istanbul, respectively. Housing prices in Antalya increased 244% in the last year, the average housing square meter sales price is 17 thousand 123 TL, the average housing sales price is 2 million 54 thousand 760 TL. The annual value increase in Mersin is 243%, the average housing square meter sales price is 10 thousand 923 TL, the average housing sales price is 1 million 583 thousand 835 TL. The value increase in housing sales prices in Istanbul is 241%, the average housing square meter sales price is 20 thousand 208 TL, the average housing price is 2 million 424 thousand 960 TL.

The number of first-hand housing sales decreased by 18% to 35 thousand 954

The number of first hand residential sales across Turkey decreased by 18% in September compared to the same month of the previous year and reached 35,000 954 thousand 954. In total housing sales, the share of first-hand housing sales was 32%. First-hand housing sales in the January-September period amounted to 312 thousand 118, an increase of 9% compared to the same period of the previous year. Second-hand housing sales decreased by 25% in September compared to the same month of the previous year to 77 thousand 448. In total housing sales, the share of second-hand housing sales was 68%. Second-hand housing sales in the January-September period amounted to 745 thousand 75, an increase of 13% compared to the same period of the previous year.

Evaluating the data, Endeksa Co-Founder and General Manager Görkem Ögüt said, “We see that the slowdown observed in housing sales for the last 2 months continues in September. In September, the movement of its market is expected due to the seasonal impact, while there was a decline in housing sales compared to the previous month and the same period last year. We observe that there are two main reasons for the decline in sales, the scarcity of stock in the market and the expectation of a decline in prices. According to the Endeksa data, we see that the growth in housing prices is slowing down. In the last quarter, I expect the conditions of the market to be more seated and the annual housing sales will close with an increase.”

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