Average home prices at 2.54 million liras

ISTANBUL

The average home-sale price in Türkiye climbed to 2.54 million Turkish Liras ($96,359) in June, according to data by Endeksa, which collects data on the real estate market.

Home prices climbed by 110 percent year-on-year to 19,653 liras/square meter.

In May, the average sale price was 2.45 million liras.

In Istanbul, the country’s largest city by population, the average home price was 3.96 million liras last month, up from 3.56 million liras in May.

In Ankara, the average price was 2 million liras. The country’s capital experienced an influx of people from the southern provinces hit by the devastating earthquakes in early February, which probably played a role in the 123 percent year-on-year increase in property prices.

In the Mediterranean province of Antalya, where foreigners are very active in the local property market, the average home price leaped 103 percent from June 2022 to 3.42 million liras.

Last month, 4,503 homes were sold in Antalya, with 22 percent of those properties sold to foreign nationals.

In June, home sales across Türkiye plunged 44.4 percent from a year ago to 83,636. New home sales declined 42 percent, while mortgaged sales dropped more than 45 percent.

In the first six months of the year, nearly 566,000 homes changed hands, marking a 22.1 percent decline compared with the same period of 2022.