The average price per housing unit in Turkey has exceeded TL 3.2 million. Buyers may be unhappy with this, but investors are happy. The fact that the average payback period for investments in residential real estate in the country has been reduced to 15 years, and in some provinces to 11-12.
According to the Endeksa real estate analytical portal, the average cost of 1 sq.m of housing in Turkey at the end of the first quarter of 2024 is TL 25,111, and the average cost of one property is TL 3,264,430.
Sales increased in March 2024 after stagnating for several months: the number of transactions increased by 12% compared to February. The volume of deals in the new construction segment increased by 5% by March last year, while the volume of transactions in the secondary real estate segment added 9% by February 2024.
As for the foreign citizens’ interest, the nationality of investors in the TOP 10 countries, the citizens of which buy the most residential real estate in Turkey, has hardly changed. The TOP-20 has seen some changes.
You can read the detailed report on transactions for March and the first quarter of the year right here.