The average cost of housing is 2.54 million liras - Latest News

The average price of a property in Turkey rose to 2.54 million Turkish liras ($96,359) in June, according to Endeksa, a website that gathers information on the real estate market. Housing prices have increased by 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 by population, the average home 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.

In the Mediterranean province of Antalya, where foreigners are active in the local real estate market, the average house price has increased 103 percent since June 2022 to 3.42 million liras. Last month, 4,503 houses were sold in Antalya, of which 22 percent were purchased by foreigners.

In June, the number of real estate sales across Turkey fell 44.4 percent year-on-year to 83,636. New home sales fell 42 percent and mortgage sales fell more than 45 percent. Nearly 566,000 homes sold in the first six months of the year, a 22.1 percent decline from the same period in 2022.