Experts analyzed the housing situation in coastal cities and areas around the start of July holidays in Turkey, which saw a surge in bookings that had not been seen in years. For example, rental rates for detached houses reached 20,000 TL per day.
June 2021 Resort Property Index data was released by Hepsiemlak, and their real estate portal Emlakkulisi published it.
CONTENT:
- WHAT ARE THE INDICATORS AT THE MID-SUMMER?
- DYNAMICS OF RESORT AREAS IN THE LAST MONTH
- LEADERS IN INCREASING RENTAL RATES
- LEADING PROVINCES IN HOUSING PRICE GROWTH (SALE) IN THE LAST MONTH
- LEADING PROVINCES IN RENTAL PRICES IN THE PAST MONTH
WHAT ARE THE INDICATORS AT THE MID-SUMMER?
If we try to sum up in one sentence, then a clear increase in demand was observed on the coasts of the Aegean, Mediterranean and Marmara Seas. Moreover, Izmir is in the lead, where the annual increase in prices for properties for sale for the year amounted to an impressive 78%.
It is followed by: Fethiye (province of Muğla), Serik (vicinity of Belek resort, province of Antalya), Didim (province of Aydin, where the resort of Kuşadası is also located), Bodrum, where population for the summer season approached a million (again Muğla); further Milas (Muğla province), Çeşme (Izmir province), Döşemealtı (Antalya province) and Kuşadası (Aydin province). Housing cost has also increased dramatically in these locations: within 55-69%.
That is, three of the most popular resorts are located in the provinces of Muğla and Izmir, and two more - in Antalya and Aydin.
The most expensive real estate among them is in Bodrum (14,941 TL per 1 sq. m.) and Çeşme (15,840 TL). Moreover, if a year ago the price in the mentioned areas started from 3.3 thousand TL with a little, this year it is no less than 5.6 thousand TL.
We are going to introduce the 10 cities on the shores of the Aegean, Mediterranean and Marmara seas with the highest growth in house prices over the past year:
| June 2020, average price for 1 sq. m. | June 2021, average price per 1 sq. m. | Prices change in a year | |
|---|---|---|---|
| Seferihisar (Izmir) | 3497 TL | 6223 TL | 77,9% |
| Fethiye (Muğla) | 5097 TL | 8621 TL | 69,1% |
| Serik (Antalya) | 3333 TL | 5595 TL | 67,8% |
| Urla (Izmir) | 5916 TL | 9924 TL | 67,7% |
| Didim (Aydin) | 3478 TL | 5761 TL | 65,6% |
| Bodrum (Muğla) | 9137 TL | 14 941 TL | 63,5% |
| Milas (Muğla) | 3684 TL | 6000 TL | 62,8% |
| Çeşme (Izmir) | 9782 TL | 15 840 TL | 61,9% |
| Döşemealtı (Antalya) | 3313 TL | 5345 TL | 61,3% |
| Kuşadası (Aydin) | 3817 TL | 5912 TL | 55,0% |
DYNAMICS OF RESORT AREAS IN THE LAST MONTH
Foça in Izmir was the area with the highest rise in prices for housing for sale over the past month.
If you look at June index of all real estate by districts, then, in addition to Foça, Milas (Muğla), Erdek (Balikesir), Serik (Antalya) and Fethiye (again Muğla) were also included in the “five leaders”.
10 cities on the shores of the Aegean, Mediterranean and Marmara seas with the highest growth in house prices in the last month:
| May 2021, average price per 1 sq. m. | June 2021, average price per 1 sq. m. | Prices change in a year | |
|---|---|---|---|
| Foça (Izmir) | 7980 TL | 9435 TL | 18,2% |
| Milas (Muğla) | 5409 TL | 6000 TL | 10,9% |
| Erdek (Balikesir) | 3333 TL | 3667 TL | 10,0% |
| Serik (Antalya) | 5208 TL | 5595 TL | 7,43% |
| Fethiye (Muğla) | 8056 TL | 8621 TL | 7,02% |
| Seferihisar (Izmir) | 5819 TL | 6223 TL | 6,9% |
| Mezitli (Mersin) | 2580 TL | 2746 TL | 6,4% |
| Konyaalti (Antalya) | 7261 TL | 7665 TL | 5,6% |
| Bodrum (Muğla) | 14 234 TL | 14 941 TL | 4,9% |
| Didim (Aydin) | 5.491 TL | 5.761 TL | 4,9% |
Bodrum and Didim increased in price the least of all, with the same indicators: less than 5% (4.9%).
Slightly more, but with a small separation from each other, increased in price (in ascending order): Konyaalti, Mezitli, Seferihisar, Fethiye and Serik. Erdek, Milas and Foça successfully passed the “threshold” of a 10% rise in price.
It is curious that one of the districts of Mersin province, which does not appear too often in the statistics of the “leaders of price hikes”, was included in the rating of the “winners” of the month. However, this region is likely to demonstrate its potential: after all, it is not only located on the sea, but is also a new economic center of Turkey, thanks to the construction of the Akkuyu nuclear power plant here, the country's first nuclear power plant.
We also recall that villas for sale turned out to be the most expensive of all housing categories: cost per square meter by the middle of summer 2021 almost reached 10,000 euros there.
.JPG "Resort areas: price performance for the peak of the current summer season")
LEADERS IN INCREASING RENTAL RATES
Here Edremit (Balikesir province) became indisputable: tariffs in Edremit increased over the year from 11 to 26 TL per 1 square meter, or by as much as 135%.
The large resort of Kusadasi in the Aydin province is in second place, where the price has risen from 15 to 28 TL, or by 83%.
More than 50% of the increase was demonstrated by:
- Konyaalti (Antalya province) - 63%
- Bodrum (Muğla province) - 62%
- Çeşme (Izmir province) - 55%
- Russians' favorite resort Alanya (Antalya province) - 53%
All of them were included in “top five leaders”.
Let us recall that in the spring there was an explosive demand for rental villas in Antalya and the surrounding area, especially in expensive resort villages of Kaş and Kalkan.
LEADING PROVINCES IN HOUSING PRICE GROWTH (SALE) IN THE LAST MONTH
Here, the winner of June ranking was the province of Hatay with 9.60%.
Apart from Hatay, the most expensive resort property is in Aydin and Muğla provinces: the average cost of 1 square meter of housing increased by 6-10%.
As we can see, this time the outskirts of Istanbul were included in the “top ten leaders”.
The lowest figures - less than 3% - were shown by Tekirdağ and Yalova.
The most expensive province among them in terms of the average price in the entire region is Muğla: 8182 TL per 1 sq. m. The second most expensive is Antalya (4937 TL), the third is Izmir (4718 TL).
In all other provinces, the price per square meter ranges from two to four thousand Turkish liras. Hatay is not only the most “added” in price, but also the cheapest in terms of cost per square meter: 2251 TL.
10 provinces of the Aegean, Mediterranean and Marmara seas with the highest growth in house prices in the last month:
| May 2021, average price per 1 sq. m. | June 2021, average price per 1 sq. m. | Prices change in a year | |
|---|---|---|---|
| Hatay | 2052 TL | 2251 TL | 9,69% |
| Aydin | 3034 TL | 3216 TL | 6,00% |
| Muğla | 7751 TL | 8182 TL | 5,56% |
| Balikesir | 3475 TL | 3618 TL | 4,12% |
| Antalya | 4766 TL | 4937 TL | 3,59% |
| Canakkale | 3262 TL | 3379 TL | 3,58% |
| Mersin | 2475 TL | 2562 TL | 3,51% |
| Izmir | 4568 TL | 4718 TL | 3,30% |
| Tekirdağ | 2416 TL | 2483 TL | 2,80% |
| Yalova | 3263 TL | 3338 TL | 2,30% |
LEADING PROVINCES IN RENTAL PRICES IN THE PAST MONTH
Here the undisputed leader is Muğla, with its popular resorts Bodrum, Marmaris, Fethiye, Göcek, Ölüdeniz and others.
The average prices in the province of Muğla have increased from 41 to 77 TL per square meter over the past year: an increase of as much as 90%.
In Mersin, where the price increase was fixed at 60%, the tariff changed from 12 to 19 TL.
Balikesir, where the average cost of a square meter increased from 11 to 17 TL, showed an increase of more than 50%.
The next in the ranking is Hatay province (with an increase of 46%). It is followed by: Çanakkale, Izmir, Aydin, Antalya, Yalova and Tekirdağ. The increase in rental prices over the past month, from May to June 2021, ranges from 30-46% in these six provinces.
Hepsiemlak CEO Zeynep Tandogan described the growth in prices for so-called “summer” housing in coastal areas as follows:
“Over the past year, the demand for our resorts, which we can call the most popular - such as Bodrum and Çeşme, - has grown rapidly; this led to a significant increase in the cost per square meter which reached a level of 15,000 TL in the two mentioned cities. As a result, many locals and tourists looking for residences for the summer have nevertheless turned their attention to areas with a more acceptable price for them. According to the Hepsiemlak real estate index for June 2021, as already reported, Izmir Seferihisar was in the lead with a price increase of 78% over the year; it was followed by Fethiye, Serik, Urla, Didim, Bodrum, Milas, Çeşme, Döşemealtı and Kuşadası where the increase in price is also very, very large - from 54 to 69%. This is an impressive figure; however, we see that the demand for the coastal regions of Turkey, especially on the Aegean and Mediterranean coasts, is almost evenly distributed. And we predict that the demand for them will remain at least for the next few months”.
