Increase in property prices and decline in housing affordability.

In September 2024, the real estate market in Turkey continues to experience a rise in housing prices, making it less affordable for most local residents. On average, property prices in Istanbul have increased by 93% over the past year, while in Ankara, they have surged by 126%. The average housing price in Istanbul has reached 4,123,670 Turkish lira. This rise in prices is also accompanied by an increase in rental rates, which have gone up by 136% compared to last year.