Real estate prices in the most popular regions of Turkey in January 2023
Real estate technology platform Endeksa has published data on how real estate prices in popular regions of Turkey have changed year on year. At the end of January 2023, most of the properties were sold in Antalya, Istanbul and Ankara.
On an annualized basis (from January 2022 to January 2023), the increase in house prices in Turkey was 153% in Turkish Lira. The average price of 1 square meter in Turkey was $778 (14,693 Turkish Liras), and the average price of a property was $101,255 (1.9 million Turkish Liras). If you are going to invest in Turkish property in terms of generating rental income, then the average payback period of the investment is 18 years.
The most popular regions in terms of the number of real estate transactions in January 2023 were Istanbul, Ankara and Antalya.
Average property prices in Turkey in popular regions: January 2023, year-on-year price dynamics
|Region||Average price per square meter at the end of January 2023||Average property price at the end of January 2023||Price growth year on year in Turkish Lira|
|Istanbul||24 469 TL ($1 297)||2.9 million Turkish liras ($155,600)||+161%|
|Ankara||11 260 TL ($597)||1.5 million Turkish liras ($80,555)||+158%|
|Antalya||22 193 TL ($1 176)||2.7 million Turkish liras ($141,129)||+178%|
|Average price in Turkey||14 693 TL ($778)||1.9 million Turkish liras ($101,255)||+153%|
The annual increase in property prices in Istanbul was 161% (from January 2022 to January 2023), while the average price of 1 square meter is 24,469 Turkish liras ($1,297). The average property price in Istanbul is 2.9 million Turkish liras ($155,600).
Real estate in the resort region of Antalya has risen in price by 178% year on year to 22,193 Turkish liras ($1,176). The average cost of housing is 2.7 million Turkish liras ($141,129).