Where in Turkey the cost per m² increased the most over the past year

In 2024, the real estate market in Turkey continued to show rapid price growth. The cost per square meter has increased significantly in a number of regions due to high inflation in Turkey, growing demand among foreign buyers and limited supply. In this article we will look at where in Turkey real estate prices have increased the most and which regions remain the most promising for investment.

The main factors behind the price increase are

• inflation and rising construction costs.
• Rising prices for land plots.
• Limited supply on the background of high demand.
• Active interest of foreign investors.
• Increase in prices for secondary housing and new buildings.

Leaders in price growth in 2024

Istanbul

Istanbul traditionally holds the leading position in the residential real estate market in Turkey. In 2024, the average price per square meter in the city increased by 11.82%, reaching $1,202. The average price of an apartment amounted to $138,539. The greatest growth was recorded in the districts of Beşiktaş, Şişli and Kadıköy, where the cost of luxury real estate increased by more than 20%.

Ankara

Ankara shows no less impressive results. In 2024, a square meter in Ankara rose in price by 30.42%, reaching $657. Prices rose particularly strongly in the Cankaya and Yenimahalle neighborhoods , where demand for housing in Turkey among local and foreign investors continues to grow.

Antalya

Among the coastal cities, Antalyaholds the leadership . In 2024, prices for apartments by the sea increased by 7.02%, and the average cost per square meter was $1,051. Particularly popular are the districts of Lara and Konyaalti, where it is becoming increasingly difficult tobuy an apartment in Turkey due to limited supply.

Alanya

Price growth in Alanya exceeded the indicators of other resort cities. Real estate in Turkey by the sea here rose in price by 7.38%, and the cost per square meter reached $1,475. Investors from Russia, Germany and Middle East countries show great interest in this region .

Izmir

Izmir is one of the fastest growing cities in Turkey. In 2024, the average cost of housing increased by 15%, reaching $376 per square meter. The growth is facilitated by the development of urban infrastructure and investment projects.

Mersin

A relatively new player in Turkey's real estate market, Mersin is attracting attention due to its affordable prices. In 2024, the cost per square meter increased by 18% and the average price of an apartment was $85,000.

Outlook for 2025

Turkey's real estate market isforecast to continue to grow in 2025 . The main drivers are high demand from foreign buyers, infrastructure development and limited land resources in major cities. Investments in apartments by the sea, real estate in Turkey for residence permit and commercial real estate are of particular interest .

In 2024, the cost per square meter in Turkey increased in all major cities, especially in Istanbul, Ankara, Antalya and Alanya. The main reasons for the increase were inflation, rising construction costs and high demand. The market will continue to grow in 2025, which makes investing in Turkish real estate an attractive solution for buyers and foreign investors.