The most popular cities among property buyers in Turkey in the first half of 2020 were the largest cities: Istanbul, Ankara and Izmir. In June, 28,799 properties (15.2 percent of total June sales in the country) were sold in Istanbul (record of the month for sales of apartments and houses), in Ankara - 21,915 properties (11.5 percent of June sales), in Izmir - 11,690 properties (6.2 percent).
According to data published by the Turkish Institute of Statistics (TUIK) at the end of June 2020, the average cost per square meter of housing in Istanbul was 3,864 lira (about €485). The average cost of an apartment in Istanbul was 444,360 lira (about €56,000). The return on investment in Istanbul housing is 22 years. Property prices in Istanbul increased by 11.2 percent over the year.
The average cost per square meter of housing in Ankara is 1,931 lira (about € 245). The average cost of an apartment in Ankara was 256,823 lira (about €33,000). The return on investment in Ankara's real estate is 17 years, prices have increased by 11.6 percent over the year.
The average cost per square meter of housing in Izmir is 3,111 lira (about €400). The average cost of an apartment in Izmir is 385,764 lira (about €48,500). The return on investment in Izmir real estate is 20 years, prices rose by 11 percent over the year.