Economy in Turkey: Square meter price of homes in Istanbul reaches 42,000 Turkish liras

Nationwide, the square meter price of housing in Turkey has risen to 27,840 Turkish liras, with Istanbul leading at 41,766 Turkish liras.

The Real Estate Investors Association has released its 3rd quarter report on the Turkish real estate sector. The report also includes information on housing prices in Turkey and Istanbul.

The report on housing prices includes the following statements: “There has been a significant increase in housing prices due to strong demand and efforts to escape inflationary trends. However, signs of a slowdown in this upward trend have begun to emerge. According to the data released by the Central Bank in August 2023, there has been an increase of 90.3% nominally and 21.9% in real terms compared to the same month of the previous year. The unit square meter price has reached 27,840 TL nationwide. Istanbul has the highest square meter price, reaching 41,766 TL.”

Housing prices increased by 90.3% in one year.”