Home sales in Turkey rose 32% in March compared to February, when an earthquake hit the country. But in annual terms, the number of transactions decreased by 21% compared to the same month of the previous year (up to 105,476 objects).

As for the cost of real estate in Turkey, its annual growth as of March 2023 was 154% in lira. The average price per square meter was 17,573 Turkish liras ($905), and the payback period for housing investments was 20 years.

The most popular Turkish regions in March were Istanbul, Ankara, and Antalya. In Istanbul, the annual increase in home sales prices was 144%, with an average price per square meter of 27,004 Turkish liras ($1,391). In Ankara, housing prices rose 154% over the year—the average price per square meter was 13,018 Turkish Liras ($671). In Antalya, the annual cost increase was 164%, and the average price per square meter was 24,747 Turkish liras ($1,276).

The highest increase in prices in March occurred in the provinces of Kırklareli (+208%), Antalya (+164%), and Kocaeli (+164%).

Mortgage home sales throughout Turkey in March were 46% higher than in February and 17% lower year-over-year. In March, mortgages were obtained for 24% of the total housing on sale.