In some areas of the largest Turkish metropolis, an apartment is now more expensive than a detached house in the United States. For example, a similar situation is observed in Bagdzhylar. This was reported by the Emlakkulisi portal, referring to the data received from the Chief Secretary of the Istanbul Municipality (IBB).
The municipality said that apartments in the 3 +1 format - with 3 bedrooms - in the mentioned Bagcylar are now worth 1.45 million Turkish lira (TL). Which in terms of dollars is $76 000. Despite the fact that the price of a separate house with a garden, for example, in Detroit is now $75 000.
Housing prices in Turkey have increased by 150% over the past year; and in some provinces, cities or districts, this figure is even higher.
Istanbul continues to lead in sales of residential real estate in Turkey; in particular, in the secondary real estate segment. In January, Istanbul accounted for 18% of the total volume of transactions in the country. The metropolis continues to grow, and its transport infrastructure is developing rapidly.