Demand for both New Residences and Land and Land Growing

According to the current data of Indexsa.com, land prices increased on average 85% in Istanbul, 47% in Ankara, 74% in Izmir, 34% in Bursa and 120% in Antalya. The average sales price of square meters of land in Istanbul is a thousand 542 TL, 452 TL in Ankara, 349 TL in Izmir, 946 TL in Bursa, and a thousand 34 TL in Antalya.

Evaluating the data, Indexsa.com Founder Partner and General Manager Görkem Öğüt stated that one of the important reasons for the slowdown of new housing production is the increase in housing production costs,” The increase in the exchange rate in the cost of housing production leads to an increase in the prices of building materials, as well as the increase in the prices of land is noted. Demand for plots and plots also increased very much. With the growth of new housing production costs, production slowed down and stock fell, prices increased. Building licenses were issued for 1 million 405 thousand 447 apartments in 2017, while 52.4% fell in 2018 to 669 thousand 165 units, and 324 thousand 997 building licenses were issued with 51.4% decline again in 2019. In the first three months of 2021, the number of licenses began to increase, building licenses issued by municipalities in the first three months The number of apartments increased by 105.6% compared to the previous year.”