Barnes Türkiye

Turkish Real Estate on the Rise: A Deep Dive into Current Market Trends


Sunday 24 March 2024

Picture Turkish Real Estate on the Rise: A Deep Dive into Current Market Trends

In a remarkable revelation, analysts have reported that the average cost per square meter of residential space across Türkiye has equalled $1028.

This figure mirrors the approximate cost per square meter in the vicinity of Moscow, underscoring the substantial value present in the Turkish real estate market. It's essential to note, however, that prices vary significantly across different regions, cities, and even districts within the country.

Despite these variances, the dynamic nature of the market is evident in the latest data released by the Central Bank of the Republic of Türkiye. According to the updated price index, January saw a 2.3% increase compared to December, and a staggering 68% rise compared to the same month the previous year. This trend indicates that residential property prices in Türkiye are not only growing but are expected to continue their upward trajectory, partly due to the limited supply in the market.

Transaction volumes also tell a story of resilience and recovery. Following a downturn during the autumn and winter months, the number of real estate transactions in February has almost returned to the levels observed in the previous year (January-February). This stabilization suggests a robust demand and a healthy level of activity within the Turkish real estate market.

The escalating prices and steady transaction volumes underscore Türkiye's real estate market as a burgeoning field for investors. With its dynamic price growth and promising market trends, the country presents an attractive opportunity for those looking to invest in residential property. As the market continues to evolve, potential investors and homeowners alike will find Türkiye an intriguing destination for real estate investment, offering not just a piece of land but a slice of the future in one of the world's most vibrant economies.

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