The real estate sector in Turkey suffered from instability in 2020 due to the spread of the Corona virus, but with the beginning of 2021, the real estate prices in Turkey increased in a noticeable way in light of the recovery of the real estate sector with the beginning of the new year, as the real estate sector suffered greatly throughout the previous year due to All investment and real estate sectors being affected by the pandemic of the new Corona virus, which has spread in Turkey and all the countries of the world, which impeded travel, disrupted all ways of life and paralyzed all corners of life.
Real estate prices in Turkey with the start of 2021
The beginning of the new year witnessed an improvement and recovery in the real estate sector, as real estate prices in Turkey increased relatively, and some statistical details and information about apartment prices in Turkey showed their rise happened within the first days of the New Year 2021, as it is known that real estate prices in Turkey differ from each state To another.
In this article, We will review the average real estate prices in Turkey for the year 2021, especially in the city of Istanbul, one of the most famous states of Turkey, being the tourist capital of Turkey, and the economic, tourist and real estate center of Turkey.
What is the average prices for apartments in Turkey
The average price per square meter of residential in 2020 is between: 3200 to 3800 TL
The average price per square meter of residential property in 2019 is between: 2400 to 3000 TL
The increase in price per square meter within one year: 6%
The average rent for an apartment with an area of 100 square meters ranges between 1400 to 1700 Turkish liras, while the monthly rents for the same apartment in the previous year ranged between 1250 to 1550 Turkish liras.
Real estate prices in Turkey in the major states
We will talk to you about real estate prices in Turkey in the most active Turkish states for the Turkish real estate market, and from these states that many foreigners prefer to live in and settle in: because there are many strategic factors that make these states of great importance for stability, including:
Istanbul
Antalya
Ankara
Bursa
Izmir
What is the price per square meter in the major Turkish states?
We have made some researches and then we give you the price per square meter in the major Turkish states for the year 2021, including:
Istanbul Province Price per square meter for apartments outside residential complexes 4800 TL Price per square meter for apartments in residential complexes 8900 TL
Ankara Province Price per square meter for apartments outside residential complexes 2400 TL Price per square meter for apartments in residential complexes 5600 TL
Antalya state Price per square meter for apartments outside residential complexes 3150 TL Price per square meter for apartments in residential complexes 7700 TL
Bursa State Price per square meter for apartments outside residential complexes 2600 TL Price per square meter for apartments in residential complexes 5800 TL
İzmir State Price per square meter for apartments outside residential complexes 4000 TL Price per square meter for apartments in residential complexes 8100 TL
Comparison of real estate prices in Turkey in 2021 and previous years
Real estate prices in Turkey 5 years ago until 2021 witnessed a significant increase, and this is a comparison between real estate prices in Turkey between the beginning of 2021 and past years, we give you the following statistical ratios:
Istanbul Province, within one year, the rate of increase in apartment prices reached 2.88%, and within 3 years it reached 22.6%, and the price of apartments within 5 years reached 46.2%. Ankara Province, within one year, the rate of increase in apartment prices reached 2.93%, and within 3 years it was 37.2%, and within 5 years it reached 60.8%. The state of Antalya within one year, the rate of increase in apartment prices reached 3.13%, and within 3 years it reached 64.5%, and within 5 years it reached 103.3%. The state of Bursa, within one year, the rate of increase in apartment prices reached 2.65%, and during 3 years it was 38.7%, and within 5 years it reached 99.4%. Izmir Province Within one year, the rate of increase in apartment prices reached 3.2%, and within 3 years it reached 49.4%, and within 5 years it recorded 105.3%.
The average rent of apartments in the major Turkish states with an area of 100 square meters
Istanbul Province, the average rent for an apartment of 100 square meters outside the residential complexes was 2000 TL, while in the residential complexes it was 3700 TL . Ankara Province,The average rent of an apartment of 100 square meters outside the residential complexes was 1000 TL, while in the residential complexes it was 2325 TL. The state of Antalya, the average rent for an apartment of 100 square meters outside the residential complexes was 1550 TL, while in the residential complexes it was 3775 TL. The state of Bursa, the average rent for an apartment of 100 square meters outside the residential complexes was 1150 TL, while in the residential complexes it was 2550 TL The state of Izmir, the average rent for an apartment of 100 square meters outside the residential complexes was 1675 TL, while in the residential complexes it was 3375 TL
Comparison of apartment rents and real estate in Turkey in the major Turkish states
Rents in Turkey have witnessed a remarkable increase during the last period, according to what is shown in this table: The state of Istanbul, the rate of increase in real estate rent within one year was 2.09%, and it was recorded in 3 years by 23.8%, and within 5 years it reached 35.8% State Ankara The rate of increase in real estate rent within one year was 1.75%, and it was recorded in 3 years 33.7%, and within 5 years it reached 49.4% The state of Antalya, the rate of increase in real estate rent within one year was 3.03%, and during 3 years it was 75.6% and it reached 103.4% within 5 years. State Stock Exchange The rate of increase in real estate rent within one year was 1.28%, and it was recorded within 3 years 28.9%, and within 5 years it reached 82% State Izmir The rate of increase in real estate rent within one year was 2.09%, and during 3 years it was 39.8%, and within 5 years it reached 92.5%
Real estate prices in Istanbul
Real estate prices in Istanbul witnessed at the beginning of 2021 a noticable increase and according to the following table:
|
|
Average price per square meter for apartments |
|
|
Outside the residential complexes |
In residential complexes |
|
|
Fatih |
4725 TL |
8800 TL |
|
Beyoğlu |
5150 TL |
9700 TL |
|
Sarıyer |
13700 TL |
21000 TL |
|
Bacılar |
3625 TL |
6950 TL |
|
Zeytinburnu |
4850 TL |
9200 TL |
|
Başakşehir |
5925 TL |
11000 TL |
|
Bahçeşehir |
6950 TL |
11800 TL |
|
Beylikdüzü |
3100 TL |
5400 TL |
|
Esenyurt |
2700 TL |
5100 TL |
|
Üsküdar |
5500 TL |
9300 TL |
|
Kadıköy |
9950 TL |
14550 TL |
What are the reasons for the high real estate prices in Turkey
The temporary suspension of a large part of modern residential construction due to anti-Corona measures, which led to a decline in real estate offers in exchange for an increase in real estate demand.
Real estate prices have increased in Turkey due to the opening of the chance to online ownership in real state, and this has maintained a good percentage of real estate demand.
Real estate prices in Turkey have increased due to the increasing interest of foreigners in obtaining Turkish citizenship by purchasing real estates, and many construction companies are focusing on building residential complexes and providing valuable real estate offers.
Turkey has come a long way from urban transformation projects, which has improved the situation of tens of thousands of real estates over the past year, and as a result, real estate prices in Turkey have risen.
Real estate prices in Turkey are rising annually and naturally, as real estate prices in Turkey are witnessing a rise ranging between 3 to 1 percent.
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