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Annual value growth in summer areas is 68 % in Turkey

16 June 2021
Annual value growth in summer areas is 68 % in Turkey

With the extension of time spent in homes and the spread of remote work due to the effect of the pandemic, the demand for larger, with balcony, garden houses and summer areas increased. The largest increase in value in the summer regions was in Datca, Bodrum and Kas. House prices in Datca have increased by 68% in the last 1 year and by 60% in Kas and Bodrum. In Çeşme, the average house price has exceeded 2 million TL.

The increase in demand for summer areas has also pushed up land prices. According to PropertyTR, one of the leading real estate company , the annual increase in value in summer areas was 68%. The largest increase in value in the summer regions occurred in Datça, Bodrum and KAS, respectively. In addition to its natural beauty, Datça is a region where house prices are lower than in nearby regions, with the increase in value over the past year approaching average values in the region. Bodrum and KAS are always popular holiday areas of both domestic and foreign tourists and house prices are increasing due to popular demand.

While house prices in Datca have increased by 68% in the last 1 year, the average selling price of a square meter of housing is 8,147 TL, the average house price is 830,994 TL, the return period of housing investment has been 30 years. In Kas and Bodrum, house prices have increased by 60% in the last 1 year. The average selling price of a square meter of housing in Bodrum is 11.554 TL, the average house price is 1,617,560 TL, the return period of housing investment is 32 years. In Kas, the average selling price of a square meter of housing is 10,230 TL, the average house price is 1,585,650 TL, the return period of housing investment is 43 years.

House prices in Çeşme exceed 2 million TL

In the summer regions, the regions with the highest sales price per square meter are Cesme, Bodrum and KAS. House prices in Çeşme increased with the completion of the Istanbul-Izmir Highway. With the pandemic, the average house price has passed £ 2 million. House prices in Çeşme have increased by 55% in the last 1 year, average house square meter sales price 13.175 TL, average house price 2.121,175 TL, the return period of housing investment was 45 years.

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