Average house price in Turkey is 2.3 million liras: latest news
The average price of a home in Turkey was 2.3 million Turkish liras (about $119,000) in March, according to Endeksa, which compiles information on the real estate market.
Housing prices continue to rise due to rising construction costs and an imbalance between supply and demand in the housing market.
According to a study by Endeksa, housing prices in Turkey rose 154 percent in March compared to the same month in 2022, with an average price of 17,573 liras per square meter.
In Istanbul, Turkey's largest city by population, housing prices rose 144 percent to 27,000 liras per square meter. The average housing price in this city was 3.2 million liras in March.
Housing prices in Ankara rose 154 percent''up to 13,000 liras per square meter.
In Antalya, where foreigners are actively buying real estate, the average price of housing amounted to 2.7 million liras, an increase of 164 percent compared to March 2022.
The biggest increase in housing prices was recorded in the northwestern province of Kırklareli. Home prices in this province rose 208 percent year-on-year to 1.6 million liras, following Antalya.
In the northwestern province of Kocaeli, the annual increase in home prices was 164 percent, with an average price of 1.92 million liras.
The volume of home sales in Turkey fell 21.4 percent last month compared to the same period''a year earlier and amounted to about 106,000 units, the Turkish Statistical Institute (TUIK) said this week.
Only 283,000 residential units were sold in the country in the first quarter of 2023, showing a decline of 11.5 percent from January-March last year.
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