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The results of the “sahibindex rental and sales housing market outlook” for July, compiled by the Bahcehir University Center for Economic and Social Research (BETAM), were shared.
The report examines changes in the housing rental and sales markets in July.
As house price increases in Turkey from June to July are currently below the rate of inflation, real (inflation-adjusted) sales prices fell in the country and in the three metropolises.
Home Prices for Sale
Likewise, current house price growth has also slowed. The national current price year-on-year growth rate fell 5.6 percentage points from June to 27.6%. As a result, the average price of homes for sale across Turkey is currently 29,00178 Turkish lira.
The annual growth rate of the current square meter price of houses for sale in all three major cities has decreased, reaching 25% in Istanbul, 31% in Ankara and 31.9% in Izmir. The average square meter price of houses for sale in Istanbul is 40,000 liras, in Ankara it is 22,000 liras 69, and in Izmir it is 34,000 liras 400.
The annual decline in real prices fell to -21.1% nationwide, with -22.7% in Istanbul, -18.4% in Izmir and -19.1% in Ankara.
Compared with June 2024, the housing demand index increased by 37.8%. As a measure of real estate market activity, the ratio of homes sold to the number of homes for sale increased both nationally and in the three major provinces.
When we look at rental properties, actual rental prices have fallen across Turkey. The annual growth rate of the average advertised square meter price of rental properties across Turkey fell to 45.9% in July.
In July, the average price of rental housing advertisements nationwide was 181.1 liras per square meter.
The annual rental growth rate in Istanbul was 44.8%, in Ankara 59.2% and in Izmir 61%. The average rental price in Istanbul ads was 233.3 liras, in Ankara 176.9 liras and in Izmir 210.5 liras.
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