The average house price in Turkey increased in the last year by 110% to reach 19,653 liras per square meter (about €650/m2), according to data published by representatives of the real estate sector, which indicate that the average price of a property in Turkey reached 2.54 million liras in June, about 84,000 euros at the current exchange rate, compared to the 2.45 million it reached in May. In Istanbul, the average price of a house stood at 3.96 million liras in June, while in Ankara it reached 2 million and in Antalya – where 22% of the houses are bought by foreigners, mainly Russians – it rose to 3.42 million. Throughout Turkey, home sales fell by 44.4% in June, with the drop in new homes sales being 42%, confirming the crisis in the sector due to inflation and rising prices.
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Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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