Apartment and house owners in Turkey who got their hands on buying property on the Aegean Sea can now joyfully rub their hands. Rental rates on this coast have increased by 30-80% this summer, depending on the location.
This information comes from Emlakkulisi, referring to the latest research from TSKB Real Estate Appraisal. More specifically, in Foça (a district of Izmir province), housing prices have gone up by 80%. In Çeşme (also in Izmir province), prices have increased by 30%. In Urla, prices have risen by 45%, and in Karaburun, they have gone up by about 35%. Aydın province is also in high high demand, with prices in Kusadasi rising by 40% in just six months.
When it comes to acquiring property, prices have gone up by 4% in the last month alone. Analysts predict that the cost of residential real estate will rise by about 30% by the end of the year, partly due to the increase in construction costs.
For more information on housing transactions in the first half of the year (January-June 2023), you can refer to the statistics available here.