The prices of apartments in Istanbul are quickly approaching the price level

of expensive European cities, and according to statistics,

housing prices in Turkey have increased 12 times over the last 9 years.

Turkey,

with an increase of 168% in 2022 and 76% in 2023, has taken the first place

in the increase of housing prices in Europe, Hungary is in second place with an increase of 166%.

Most of the member countries in the

Organization for Economic Development and Cooperation (OECD)

experienced a double-digit increase in housing prices in the period from 2015 to 2023.

However,

the countries of Northern Europe showed the lowest growth with an increase of about four percent.

Although the increase in housing prices in Turkey started in 2015,

from 2021 onwards, this growth has accelerated. According to experts, this increase is caused by various factors

such as currency fluctuations,

the fall in the value of the lira, the increase in inflation,

the cost of construction, and demand after the spread of Corona.

Also,

the earthquake of February 6 last year in 11 cities of Turkey has caused an increase in prices as people seek to live in safer areas.

Comparing the purchase price of a property with the cost of renting in

Istanbul shows a reasonable ratio, but with the significant increase in rents,

this difference is increasing day by day, and currently,

the average price of buying a house is 250 to 300 times the rent.

This situation means that investors can get the original investment amount by renting their house in less than 300 months.

However,

the valuable members of the Economic Activists Forum need to obsessively include at least ten economic

parameters of Turkey in their calculations to further investigate real estate investment in Turkey.