Istanbul Housing Prices Rising Seven Times Faster than the Dollar

Choosing the optimal investment tool in Türkiye, a country with high inflation, is a pressing issue. Among the basic tools—gold, currency, housing, and the stock market—residential real estate in highly sought-after areas currently shows the highest returns. According to recent data, over the past 1.5 years, the dollar has appreciated by 42%, whereas housing in Istanbul has surged by 280%.

Let's look at the specific figures: in December 2022, the dollar was valued at 18.9 Turkish lira (TL), while the average price per square meter of residential real estate in Istanbul was 16,200 TL.

By May 2024, these numbers changed significantly: the dollar rose to 32.19 TL (+42%), and the price per square meter of housing in Türkiye's largest metropolis skyrocketed to 47,000 TL (+280%).

Investing in real estate remains one of the most reliable tools in Türkiye: housing prices do not decrease. For example, a property purchased five years ago for $300,000 is now selling for $1 million. Over the past nine years, residential real estate prices in Türkiye have increased 15-fold.

Given these trends, investing in Istanbul’s housing market continues to be a highly lucrative and secure option.

BARNES Türkiye offers a wide range of investment opportunities and is here to assist you in navigating this dynamic market. Whether you are looking to invest, buy, or sell, our team is dedicated to providing expert guidance and support.