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Property Prices in Turkey
Continue to Fall from Peak!

The property price in Turkey published by the Central Bank of the Republic of Turkey (CBRT) in June 2021 increased by 29.2% compared to the same period of 2020.

The increase in new build property prices was 33%. The highest increase was recorded in Izmir with 29.9% among 3 big cities.

 

Property prices increased by 29.18% year-on-year in June. The real price increase was 9.9% in June 2021.

Thus, the slowdown in property Turkey prices continued in June after May 2021. In April, the highest level in the index history was recorded on the basis of the annual increase in real estate prices.

 

On a monthly basis, the increase was 2.74% in June. In May, this data was 3.90%.

Considering the 3 major cities in Turkey, the highest increase in June was in the Izmir province with a 29.9% rise. Izmir was followed by Istanbul with 26.4% and Ankara with 25.7%.

 

The price per square meter in Turkey was 4 thousand 545 Turkish Liras. The price, which was 6 thousand 804 Turkish Liras in Istanbul, was recorded as 5 thousand 527 Turkish Liras in Izmir and 3 thousand 340 Turkish Liras in Ankara.

 

 

New Property prices in Turkey Increased by 33%

 

According to the index published by the Central Bank, the prices of new properties increased by 33%. While new-build real estate prices increased by 34.2% in Ankara, the increase was 28.7% in Izmir and 24.9% in Istanbul.

 

The annual increase in the resale property price index was 28%. While the price of resale houses increased by 25.9% in Istanbul, it was 24.6% in Ankara, it increased by 28.5% in Izmir.

 

Property Sales in Turkey Increased Rapidly on a Monthly Basis in June 2021

 

While real estate sales in Turkey were 134 thousand 731 in June, this figure was 59 thousand 166 in May of the current year. Despite the monthly increase, property sales in June decreased by 29.1% compared to the same period of 2020.

 

Istanbul had the highest share in house sales with 25,833 property sales and 19.2% share. According to the number of real estate sales, Istanbul was followed by Ankara with 13 thousand 401 house sales and 9.9% share, and Izmir with 7 thousand 522 houses sales and 5.6% share.

The cities with the lowest number of property sales, were respectively, Hakkari with 12 houses, Ardahan with 32 houses and Bayburt with 64 houses.

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