Euro rates
  • USD/RUB87.8197
  • GBP/RUB113.9686
  • TRY/RUB2.6566
  • EUR/RUB95.7849
Alanya
+28°C
2309apartments on site

Property prices in Turkey have risen by almost 50% in the past year

  • 21.06.2024
  • 622
  • 0
  • 0
Property prices in Turkey have risen by almost 50% in the past year

Artificial intelligence based on TÜIK statistics has analysed housing sales in Turkey for May 2024. According to TÜIK, sales increased by 46% during the month but decreased by 2% compared to last year. A total of 110,588 residential units were sold in May—down by 3.4% compared with the same period last year.

The index notes that Turkish property values continue to rise, but the pace of this growth is slowing. The annual price increase was 48.47%, but after adjusting for inflation, the real annual increase fell by 14% and the monthly increase by 3%.

May 2024 rents also increased by 54% year-on-year, but real annual growth fell by 11%.

Istanbul recorded the highest volume of sales (18,814 homes), followed by Ankara (9,861) and Antalya (6,305). Ankara saw the highest nominal price growth, rising by 55.3% over the year, although real prices fell by 10%.

Read also
  • The rules for getting a residence permit in Turkey are changing
    Turkey is launching an electronic appointment and tracking system for residence permit applications. It is scheduled to be launched on 24 June 2024. The main purpose of introducing the system is to streamline and securely store data on foreigners. From a practical point of view, the introduction...
    28.06.2024
  • In Alanya, increased attention is being paid to earthquake-resistant buildings
    Alanya is one of Turkey's safest cities in terms of earthquakes. It is still checking buildings to make sure they meet safety standards. Alanya is one of Turkey's safest cities in terms of earthquakes. Buildings are still being inspected to ensure they meet safety standards. These buildings will be...
    14.06.2024
  • Tax reform in Turkey will affect property owners
    According to a tax reform that is expected to be submitted to parliament soon, taxes will be increased for owners who use real estate as an investment vehicle. The details of the reform have not yet been revealed, but Hakan Akçam, president of the Ankara Professional Chamber of Estate Agents...
    07.06.2024
Free consultation

Schedule a consultation with our real estate experts

Ali Pazandeh
Sales representative, Graphic designer