The cost of one square meter of residential real estate on average in Turkey has reached 12,571 Turkish lira (TL), and the average cost of one housing unit is now equal to 1,634,230 TL, analysts say. The average payback period for housing investments at the moment is still 19 years.
According to Endeksa, housing prices in Istanbul have increased by 229% over the past year alone: the average price of one square meter has already exceeded 21 thousand TL, and the average cost of one lot is over 2.4 million TL.
Ankara (+208%), Antalya (+246%), Mersin (+230%) and Mugla are also showing impressive dynamics – the province with the highest average housing price (+160%): in Mugla, one square meter will now cost an average of 29,824 TL, and the average residential unit real estate – in 3.9 million TL.
The founder of Endeksa, Gerkem Ogyut, believes that the final months of the year – traditionally very active – will demonstrate an increase in indicators. Especially in light of the fact that the dynamics of price growth in November-December, apparently, will slow down.
The other day we told you that the average rent in Turkey is approaching 6,500 TL.
As for the interest in buying residential real estate from foreigners, the citizens of the Russian Federation have been leading in this matter for more than six months.