Square meter of housing prices in Turkey rose by 82.5% in the last 5 years. As stressed suffering from the continuous rise in house prices in the last 5 years, house prices rose significantly in Turkey. For example, the average price per square meter in Istanbul has increased to 3.832 TL. In this case, it is almost impossible to get a house of 100 square meters in Istanbul under 350,000 TL.
Rapid increase in Istanbul
The Central Bank of the Republic of Turkey (CBRT), according to housing prices per square meter in Turkey has risen steadily for the past 5 years. The average unit price per square meter is 2.112 TL, while in Istanbul, the price per square meter is 3.832 TL. However, the year we passed house prices in Istanbul was the scene of the lowest increase in the last 7 years. In Istanbul, the price per square meter of housing, which was 1,799 TL in 2012, has increased by 113% in the last 5 years. In other words, the price of a house that sold 100,000 TL 5 years ago today has passed 200,000 TL today. However, this increase has decreased sharply in the last year. The annual increases of 20% are limited to 8% this year. This is the situation at home prices in Istanbul. How are you in other big cities?
The highest price increase in Izmir
The highest increase in house prices in the past year took place in Izmir, Turkey. In İzmir, the square meter prices of housing increased by 17.8% compared to the previous year and reached to 2,627 TL. In the last 5 years in Izmir, home prices have increased more than 100% like Istanbul. There is a similar increase in Ankara as in Istanbul. House prices increased by 6.4% last year. The price per square meter of housing in Ankara is 1,703 TL and there is a slow increase in the last two years. The price increase is expected to continue for a while in Izmir, where rapid migration has taken place and numerous new projects have begun.