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NEWS House prices for sale in Istanbul increased by an average of 118 percent in a year

27 Apr 2022

Istanbul, one of the largest cities in Turkey and Europe, continues to be a favorite of foreigners especially. This metropolis which has a magnificent treasure of history and culture, welcomes a large number of guests who come from abroad on business or on vacation. In addition, the fact that a very important part of the Turkish economy is also here also leads to an increase in housing prices in Istanbul.

According to a recent study on the change in house prices for sale in all cities, the increase in Istanbul was 118 percent, followed by Ankara with 104 percent and Izmir with 84 percent, on an annual basis.

In the same study, based on January in Istanbul's districts, the price of square meters increased by more than 75 percent compared to the previous year.

On the other hand, excessive increases in house prices are observed in other regions of the country and especially in the Aegean and Southern regions. Of course, this also has a significant effect on rents. In addition, people who come and settle in the Aegean Region and the Mediterranean Region from large cities also increase the demand for housing, and therefore this also affects house prices and rents.

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