The cost of a square meter of housing on the coasts of the Mediterranean and Aegean Seas has exceeded the prices in Istanbul. These figures are given by Emlak Kulisi, the construction and real estate newspaper in Turkey. The demand for properties in seaside cities began to grow during the coronavirus pandemic, followed by demand soared in property prices. The largest rise in apartment prices has been recorded in Bodrum, Antalya and Izmir: housing prices in some districts of these cities exceeded the prices for apartments in Istanbul.
Emel Akbash Idikut, founder of the investment and consulting company ProjEkspert Gayrimenkul: “Working remotely allows people not to leave the seaside towns and villages after their holidays and come there at any time regardless of work and study. Due to the pandemic, many have taken the opportunity to live on the coast as long as possible working and studying remotely. This situation has affected the prices and demand for real estate by the sea. So in Bodrum from January to August 2020, prices for the secondary housing increased by 20 percent, for new projects - up to 40 percent. The average cost of secondary apartments in Izmir has increased by 17 percent and new projects - by more than 20 percent."
According to the real estate publication, the peak in demand for real estate has been observed this year in Antalya. On average, from January to August, prices for secondary apartments in Antalya increased by 20 percent, and for new ones - up to 40 percent.