In a dynamic real estate landscape, this article sheds light on the remarkable surge in housing prices across Turkey, demonstrating their robust growth in comparison to the appreciation of foreign currencies over the past one and two years. The data, sourced from Indeksa.com, offers valuable insights into the nation’s major cities and the enduring appeal of real estate as a secure investment avenue.
Housing Price Surge
Over the past one and two years, Turkish housing prices have exhibited extraordinary growth rates that have outpaced the appreciation of key foreign currencies such as the USD, EUR, and GBP. The data unveils impressive figures for major cities:
- Istanbul: A remarkable 75% increase in housing prices within one year and a staggering 122% growth over two years.
- Ankara: A significant 50% rise in one year, complemented by a 101% surge over a two-year period.
- Izmir (Smyrna): Exhibited a robust 55% increase within one year and an impressive 115% growth over two years.
- Bursa: Noteworthy for its 56% increase in housing prices in one year, with a 103% rise over two years.
- Antalya: Boasted an impressive 78% increase in one year and a remarkable 178% growth over two years.
On a national scale, Turkey witnessed housing prices soar by 63% within the last year and a remarkable 132% surge over the past two years.
Comparison with Foreign Currencies
In stark contrast, foreign currencies appreciated in the following manner:
- USD/TRY: Registered a 56% increase in one year and an appreciable 97% growth over two years.
- EUR/TRY: Displayed a 50% rise within one year and a 102% increase over two years.
- GBP/TRY: Recorded a 54% uptick in one year and an impressive 121% growth over two years.
Rental Returns Enhance Value
In addition to the remarkable appreciation in housing prices, rental returns have added significant value to real estate investments:
- Turkey overall: Achieved a remarkable 71% return in one year and an impressive 151% in two years.
- Istanbul: Showcased an 83% return within one year and a commendable 139% over two years.
- Ankara: Demonstrated a 57% return within one year and an impressive 118% in two years.
- Izmir: Registered a 62% return in one year, complemented by a strong 130% increase over two years.
- Bursa: Noted for its 63% return in one year and a commendable 118% in two years.
- Antalya: Highlighted an impressive 86% return within one year and an astounding 197% over two years.
Real Estate as a Safe Haven
Görkem Öğüt, Founding Partner and General Manager of Indeksa.com, underscored the significance of real estate as a secure investment in Turkey. Despite the challenges posed by the pandemic, the real estate sector remained robust in 2021, achieving the sale of over 1.49 million housing units. Öğüt emphasized the resilience and importance of the housing sector during trying times and remains optimistic about real estate as a promising investment avenue in the future.
In summary, despite the global pandemic’s challenges, Turkey’s real estate market has not only endured but thrived, showcasing substantial growth rates that surpass even the appreciation of major foreign currencies. This trend underscores the enduring appeal of real estate as a preferred investment vehicle in Turkey, solidifying its reputation as a haven for investment.
