The average property prices per square meter in the Turkish capital have exceeded 2,000 TL (€213) for two years in a row. Apartments in Ankara were rising in price for 15 months in a row, reaching their highest level at the end of August 2020. The average cost per square meter in Ankara increased by 19.8 percent in 8 months and amounted to 2,641 TL (about €282) in August 2020. The annual growth rate of apartment prices in Ankara amounted to 23.8 percent: the average cost of a square meter increased by 508 TL (€55).
In Turkey's third largest city, Izmir, apartment prices have been rising for 14 consecutive months. At the end of August 2020, the average cost of a square meter in Izmir reached a record level of 4,120 TL (€ 440 euros). Over the year, the growth rate of property prices in Izmir was 27.4 percent. The average cost of an apartment with an area of 100 square meters increased over the year by 88,600 TL (€9,395).