Average house price of 2.54 million liras - latest news

The average home price in Turkey reached 2.54 million Turkish liras ($96,359) in June, according to Endeksa, which collects information on the real estate market.

Home prices rose 110 percent year-on-year to 19,653 liras per square meter. In May, the average selling price was 2.45 million liras.

In Istanbul, the country's largest city, the average housing price last month was 3.96 million liras, up from 3.56 million liras in May. In Ankara, the average price was 2 million liras.

The country's capital has attracted many people from southern provinces hit by the devastating earthquakes in early February, which likely contributed to a 123 percent increase in real estate prices po' 'compared to last year.

In the Mediterranean province of Antalya, where foreigners are active in the local real estate market, the average house price has risen 103 percent since June 2022 to 3.42 million liras.

In June, home sales in Turkey fell 44.4 percent year-on-year to 83,636. New home sales were down 42 percent and sales with mortgages fell more than 45 percent. Nearly 566,000 homes were sold in the first six months of the year, a 22.1 percent drop compared to the same period in 2022.