Most expensive cities for real estate in Turkey: Some surpass Istanbul, Ankara, and Izmir, surprising many

The rising inflation, increasing housing prices, and higher interest rates on loans in Turkey in recent years have made it impossible for low and middle-income citizens to own homes. According to the real estate analysis site Endeksa, the cities with the highest housing prices have now been identified, with two cities surpassing Istanbul, Ankara, and Izmir, making a significant impact on the list.

According to Endeksa’s data, there has been a 26.35% increase in housing prices over the past year. As a result, the average price of a house has surpassed 4 million Turkish liras. The price per square meter is currently around 31 thousand TL.

Market analysts note that the rising prices and long return periods have made real estate investments risky. According to a report from Metin Mercan of Ekonomim, fluctuations in exchange rates have further increased costs and added uncertainty to the market.

This situation has made it extremely difficult for low and middle-income citizens to own homes. At the same time, it has caused investors and potential homeowners to reconsider their strategies. According to Endeksa’s data for February, the average housing prices in various cities in Turkey are as follows:

Here are the average property prices for different cities:

• Kilis: 1,953,252 TL (Amortization: 13 years)
• Kars: 2,029,790 TL (Amortization: 11 years)
• Kırıkkale: 2,241,144 TL (Amortization: 12 years)
• Bitlis: 2,383,625 TL (Amortization: 14 years)
• Hakkari: 2,399,820 TL (Amortization: 11 years)
• Siirt: 2,516,250 TL (Amortization: 14 years)
• Ardahan: 2,558,250 TL (Amortization: -)
• Ağrı: 2,608,340 TL (Amortization: 12 years)
• Yozgat: 2,620,655 TL (Amortization: 13 years)
• Osmaniye: 2,637,151 TL (Amortization: 14 years)
• Adıyaman: 2,644,452 TL (Amortization: 13 years)
• Muş: 2,648,272 TL (Amortization: 11 years)
• Bayburt: 2,711,604 TL (Amortization: 18 years)
• Bingöl: 2,730,930 TL (Amortization: 16 years)

These numbers show the varying housing market conditions across the country and the challenges faced by potential homeowners and investors.