Turkey June house price index rises 32.8% year-on-year

Turkey June house price index rises 32.8% year-on-year

The Turkish residential real estate market continues to experience significant growth, with the June house price index rising by 32.8% year-on-year. This notable increase reflects the ongoing demand and investment in the country's property sector.

As of May 2024, the unit prices of residential properties in Turkey reached nearly 10,000 Turkish lira per square meter. The highest prices were observed in Istanbul, the country's largest and most populated city, where the unit prices reached approximately 15,000 Turkish lira per square meter [1].

The data suggests that the residential real estate market in Turkey has been robust, with prices showing substantial growth over the past few years. This trend is likely driven by various factors, including urbanization, increasing demand for housing, and favorable investment conditions.

Investors and financial professionals should closely monitor this market for potential opportunities and risks. The rising prices may indicate a strong demand for residential properties, but they also highlight the importance of diversification in investment portfolios.

References:
[1] https://www.statista.com/statistics/1324719/turkey-residential-property-prices-per-square-meter-by-region/