Housing prices peak shifts: Muğla overtakes Istanbul

Muğla has emerged as Turkey's most expensive province for real estate, overtaking Istanbul in average housing value according to the latest Housing Value Report compiled by Emlakjet and Endeksa.

The report indicates that the average sale price per square meter for housing nationwide has climbed to 41,703 Turkish Lira. In Muğla, this figure is significantly higher, reaching 87,244 TL per square meter. Consequently, the average housing value in Muğla has been calculated at 11,341,720 TL, surpassing Istanbul's average of 7,158,580 TL.

Other popular coastal cities and major metropolises also show high property values. Çanakkale follows with an average square meter price of 53,387 TL and an average housing value of 6,192,892 TL. İzmir's average square meter price stands at 53,974 TL, with an average home value of 6,476,880 TL. Antalya's figures are 55,495 TL per square meter and 6,104,450 TL for average home value.

While coastal regions dominate the high-value market, Ordu has seen the most rapid price appreciation. Among 30 major cities, Ordu registered an annual increase of 32.4% in square meter prices, making it the only city to experience positive real price growth month-on-month. Ankara and Kocaeli followed with nominal annual increases of 28.7% and 28.5%, respectively.