Muğla Surpasses Istanbul to Claim the Top Spot in the Housing Market
According to current real estate data, while housing price increases continue across Turkey, Muğla has surpassed Istanbul with its high price per square meter, becoming the most expensive city.
According to the results of the Housing Value Report compiled from Emlakjet and Endeksa data, Muğla has left Istanbul behind in average square meter sales price and housing value, taking the title of Turkey's most expensive city. The average square meter sales price across the country was calculated at 41,703 TL.
Top Cities and Prices
Reaching a square meter sales price of 87,244 TL, Muğla maintains its first place by a wide margin with an average housing value of 11,341,000 TL. In Istanbul, the square meter price is 65,078 TL, and the average housing value stands at 7,158,580 TL.
Situation of Other Metropolitan Cities
According to the published report, the square meter price in İzmir was determined as 53,974 TL with an average housing value of 6,476,880 TL. In Antalya, the square meter price was 55,495 TL with an average housing value of 6,104,450 TL; in Çanakkale, the square meter price was 53,387 TL and the average housing value was 6,192,892 TL.
Record in Price Increase Belongs to Ordu
The record for price increases belonged to Ordu; among thirty metropolitan cities, the province with the highest annual increase in square meter price was recorded as Ordu with a 32.4% increase. Ordu was registered as the only city that managed to enter the positive territory in inflation-adjusted real change.
Annual Increase Rates and Istanbul
On an annual basis, Ordu was followed by Ankara with 28.7% and Kocaeli with 28.5%. In the megacity of Istanbul, the average home price nominally increased by 1.3 million TL in the past year, exceeding the 7.1 million TL threshold.