Average Housing Price in Turkey 998 thousand 325 TL, Turnaround period 19 years

In March, 134 thousand 170 housing sales took place throughout Turkey. Residential sales increased by 37% compared to the previous month in March and by 21% compared to the same month of the previous year, amounting to 134 thousand 170. According to the data of the technology-oriented real estate valuation platform Indeksa.com, as of the end of March, the annual value increase in residential sales prices across Turkey was at 127%, The average sales price per square meter of housing throughout Turkey was 7 thousand 395 TL, the average housing price was 998 thousand 325 TL, and the return period of housing investment was 19 years.

23 thousand 974 houses sold in Istanbul

Istanbul had the highest share of 23 thousand 974 housing sales and 18% in residential sales in March. According to sales numbers, Istanbul was followed by 12,000 609 housing sales and Ankara with 9% share, Izmir with 8,000 51 housing sales and 6% share. According to the index data, as of the end of March, the value increase in housing prices in Istanbul was 147%, the average sales price of residential square meters is 12 thousand 102 TL, the average housing price is 1 million 452 thousand 240 TL. was. Housing prices in Ankara have increased by 116% in the past year, the average sales price per square meter is 5,000 352 TL and the average housing price is 722 thousand 520 TL. In Izmir, the annual value increase is 119%, the average housing square meter sales price is 9 thousand 448 TL, the average housing price is 1 million 228 thousand 240 TL.

Mersin, Aydın and Antalya were the provinces with the highest annual value growth

According to Endeksa data, Mersin, Aydın and Antalya were the provinces with the highest annual value growth in the 30 provinces with the highest housing sales in March. Housing prices in Mersin have increased by 158% in the last year, the average sales price per square meter is 6 thousand 172 TL, the average housing sales price is 925 thousand 800 TL. The annual value increase in Aydin is 153%, the average sales price of residential square meters is 11 thousand 204 TL, the average residential sales price is 1 million 680 thousand 600 TL. The annual value increase in Antalya is 148%, the average housing square meter sales price is 9 thousand 861 TL, the average housing sales price is 1 million 232 thousand 625 TL.

Görkem Ögüt, Co-Founder and General Manager of Indeksa.com, who evaluated the data, said, “When we examine the data, we see that the highest March sales in the last 10 years have been reached. The uptrend in housing sales continues, but its quality is transforming. The second-hand housing market began to dominate total sales in the recent period. Of the 10 residences sold in March, 7 are second-hand housing. We see that mortgage housing sales as of March also show an increase graph. According to Endeksa data, the provinces with the greatest increase in value were Mersin, Aydın and Antalya. Recently, the rise in these provinces continues. The sale of housing to the foreigner continues to increase as expected. When we look at the interest of the two countries of interest in housing purchases after the Russian-Ukrainian tension, we see a 7% increase in housing sales in Russians and 52% for Ukrainian citizens compared to February. This increase does not mean much in the overall figure, since there were 168 sales to Ukrainians,” he said.

Second-hand housing sales increased 40% compared to the previous month

Mortgage housing sales in March in Turkey increased by 52% compared to the previous month and 39% compared to the same month last year and 30,271. In total residential sales, the share of mortgage sales amounted to 23%. Second-hand housing sales increased by 40% compared to the previous month and 23% compared to the same month last year and 95 thousand 833. Second-hand residential sales accounted for 71% of total sales. The sale of housing to foreigners increased by 21% compared to the previous month and 31% compared to the same month last year and amounted to 5 thousand 567.

Sales of mortgage housing increased by 45% to 68 thousand 342

When evaluating January-March 2022, it is seen that housing sales increased by 22% compared to the same period last year and amounted to 320 thousand 63. During this period, mortgage housing sales increased by 45% to 68 thousand 342, second hand housing sales increased 24% to 225 thousand 626. During this period, mortgage sales accounted for 21% of total sales, while second-hand housing sales accounted for 71% of total sales.

Sales price value change in 30 provinces with the most residential sales