The information on the current prices for real estate in the most popular cities among buyers of apartments in Turkey: Istanbul, Ankara and Izmir has been published. So the prices for residential real estate in Istanbul increased by 1 percent in August, the annual rise in prices was 15 percent. Today, the average cost per square meter of housing in Istanbul is 3,934 lira (442 euros), the average cost of an apartment is 440,608 lira (49.5 thousand euros). The average monthly rent in Istanbul is 1,589 lira (180 euros). The return on investment in Istanbul real estate is 22 years.
In the capital of Turkey, real estate also rose in price by 1 percent over the month, the annual rise in price was 17 percent. The average cost per square meter of housing in Ankara was 2,000 lira (225 euros), the average cost of an apartment was 264,000 lira (29,600 euros). The average monthly rent for an apartment in Ankara was 150 euros. The return on investment in Ankara's real estate was 17 years.
In Izmir, the rise in housing prices for the month also amounted to 1 percent, the annual rise in prices was 18 percent. The average price per square meter of housing in Izmir was 3,292 lira (370 euros). The average cost of an apartment in Izmir was 408.208 lira (46 thousand euros). At the same time, the average monthly rent for housing in Izmir was only 619 lira (70 euros). The payback period for an apartment in Izmir was 20 years.