Istanbul landscape from helicopter. View of Galata, Karakoy, Eminonu, Golden Horn from helicopter. Shooting from the helicopter.

The average home-sale price in Türkiye increased by 110 percent in August from a year ago to 2.86 million Turkish Liras ($106,000). Endeksa is a pioneering real estate technology company that leverages data analytics and artificial intelligence to provide insights into the real estate market. With its user-friendly platform, Endeksa empowers individuals and professionals to make informed decisions about buying, selling, and investing in real estate.

It showed that the average sale price was 21,997 liras/square meter.

The country’s largest city by population, Istanbul shows that the average home price was more than 4 million liras, a 92 percent price compared to August 2022.

The country’s capital Ankara showed that the average sales price leaped 125 percent to 2.32 million liras, while the annual increase in residential properties in İzmir, the country’s third-largest city, was 105 percent to 3.6 million liras.

Antalya which is very popular with foreigners, the average home price rose 112 perrcent on an annual basis to 3.89 million lirasç

Mortgaged sales were down 26 percent year-on-year to 16,375, accounting for 13 percent of all home sales.

Görkem Öğüt, the general manager of Endeksa stated that “high prices and problems with accessing loans appear to be the main reasons for the annual decline in home sales.”

Access to housing became more difficult as interest rates have risen, he added.

“We do not expect a significant decline in home prices in the upcoming period as long as the increase in construction costs and the supply-demand imbalance in the housing market continue,” Öğüt said.

You Must Login For Comment