Bahcesehir University’s research shows all cities of Turkey are booming.
Bahcesehir University’s Economic and Social Research Centre (BETAM), carried out statistical analysis for all major cities of Turkey, and found an overall rental price increase of 168% for 2022. The average monthly increase was 7.7%.
Istanbul recorded 147% annual increase whilst Ankara and Izmir posted 150% and 160% respectively. Adjusting for inflation, rent prices increased in all three major cities by quite some margin.
Antalya posted the highest increase with an annual increase of 302%, due to the sheer demand from Russian nationals.
Asking prices for new and resale homes increased at a huge rate as well. Istanbul posted a huge 190% price rise in Turkish lira over the twelve month period in 2022, closely followed by Ankara at 181%, and then Izmir at 169%
Average m2 prices of houses for sale were 22,273 TL in Istanbul, 9,960 TL in Ankara and 17,067 TL in İzmir.
Pera Property will do its annual statistical analysis in early January, showing the price increases in each district of Istanbul – our stats also include US Dollar and Euro adjustment analysis. Look out for our article in the first week of January!
