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Property Prices in Turkey | Apartment Prices in Turkey

General Housing Price Index in Turkey

You can have information about Istanbul, Alanya and Antalya real estate prices on this page. We recommend that you check the real estate prices before buying a real estate in Turkey.

Turkey is one of the popular tourism places in the world. The number of international tourist and investor increased by 200 % in recent years. Properties for sale in Turkey offers huge potential for investors with the strategic plans and future projects. According to the Central Bank of the Turkish Republic, Turkey's nationwide property index increased by 18.96 %. Turkey has undergone a profound economic transformation over the last decade and its fundamentals are solid. Looking at the growth data for the first nine months of the year, the slowing economy in 2014 been revived in 2015. The performance of the Turkey economy exceeded expectations with the record growth of 4 % at the beginning of 2016.

Housing price index is calculated in order to follow the change in real estate prices in Turkey with the certain price method. According to the Turkey housing price index, Turkey’s residential prices have increased 93 % in the last five years. And according to the latest data, housing index reached 202.32 level increased by 0.52 % in January 2016. Unit prices calculated per square meter in January 2015, while at the level of 1,512 TL, in January of 2016 increased to 1,741 TL.

Real Estate Sector in Turkey is Growing Day By Day

Turkey has a big real estate market. There are many cases developing as like urban transformation projects, mega projects, branded housing projects, commercial shops for sale with high rental income and opportunities offered to foreigners.The highest investments of all time are happening in the real estate market in Turkey. Residential and construction sector are creating to the approximately half of the total investments in Turkey. The construction industry and housing sector show serious growth in recent years. The sector has grown with the interest shown to the real estate sector by foreign investors. Across Turkey 12 thousand 181 residential sales to foreigners have been realized in 2013. This number increased to 18 thousand 959 in 2014. Property sales have been realized to 20 thousand 547 in January-November period of 2015. Despite price increases, real estate professionals expecting more housing sales in 2016, 2017 and 2018.

Population growth, immigration and housing investment are key factors Turkey affecting the housing market. Iraqis are taking first place with 3716 housing in home sales to foreigners in 2015. While Saudi Arabia's are taking second place with 2446 housing, Kuwaitis are taking third place with 1921 housing. Foreigners usually prefer the properties in Alanya, Antalya and Istanbul.

Property Prices in Turkey

Rising Property Prices in Turkey

Property prices in Turkey are continually increasing. According to Knight Frank, house prices in Turkey increased 18.9 % over the past 12 months. Property prices in Turkey can vary to consistently due to the location and quality of the property. Despite fluctuations in Turkey’s residential market, demand residential projects targeting lower-middle and middle-income groups remains strong. Because standard apartment buying needs are high nowadays. Despite this, apartment prices in Turkey continue to rise.

Housing concept in Turkey has changed from start to finish with the luxury projects built by the brand companies. Today, those who wish to buy Turkey apartments for sale are turning to the equipped projects. But the house prices in Turkey are very expensive for most people who want to buy a property.

The Causes of high property prices in Turkey;

1-The cost of land: Costs of land is the most important factor in the increase in housing prices. If land prices are reasonable, house prices would be also appropriate. Follow this link to see options of land for Sale in Turkey.

2-Construction costs: Subcontractors and equipment manufacturers are also raising prices. Because there is plenty of construction and contractors. For example, the price of the cement has increased by 40% in the last one year.

3-Demand: Home buying age fell with the seating of the housing loan system. People who living in earthquake zones in older homes buy a new property, which was built in accordance with all international standards for earthquake resistance. So, demands exploded with the needs. E.g: Due to high demand, Istanbul real estate prices are also too high. Consequently, contractors pulled up prices due to the liveliness in the sales offices.

4-Low interest: Housing loan interest rates are seeing the lowest figures in the history. This situation increased the number of people who want to get home. Due to low-interest rates, a family can buy a house and pay a loan 1,500 TL per month.

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