Although the rise in property prices in Turkey continues to be observed in the autumn 2020, the average property cost per square meter reached a historical maximum - 3530 TL (about €380) in August 2020 according to Emlak Kulisi, a construction and real estate newspaper in Turkey. The national average cost of a square meter was declining for 5 months in a row starting in October 2018. Then, in April 2019, apartment prices in Turkey went up. The growth continued for 17 months in a row, until in August 2020 it reached a historical maximum of 3530 TL per square meter. The average price of a square meter of residential property in Turkey, which reached its historical peak, increased by 20.5 percent in just 8 months of 2020. It means that the average cost of an apartment in Turkey with an area of 100 square meters has grown by 60,000 TL (about €6,400) in 8 months.
If we take the annual growth rate (from August 2019 to August 2020), then the rise in prices was 25.9 percent on average across the country.