Increase in House Sale Value in Şile

The ongoing migration towards coastal and summer regions following the pandemic and earthquake disaster is a primary factor contributing to the increase in real estate prices. There’s a noticeable uptick in demand for single-story houses or detached houses in these regions, causing a rise in prices. The acceptance of remote working systems, especially for white-collar workers, encourages this choice.

Endeksa, which provides real estate value calculations through artificial intelligence and big data analysis, scrutinized the housing market in summer resort areas.

According to Endeksa’s study, a large segment of people who can’t completely leave Istanbul but prefer not to live in the city center chooses detached or single-story houses in areas like Silivri and Şile. These regions are preferred because they can also be identified as summer districts close to Istanbul.

House Sale Price Increase in Şile Reaches 884% Over the Last Three Years

The results of Endeksa’s study using artificial intelligence and big data analysis reveal that the increased demand has translated into a price increase. Istanbul’s Şile tops the list in Turkey with a 884% increase in the last three years. The house sale price increase in Şile over the last three years has reached 884%, and this figure was measured as 132% for the last year alone.

Antalya Among the Most Appreciated Cities in the Last Three Years

There is a noticeable increase in Antalya too; the sale price increase over the last three years was 867%, and this figure was 141% for the last year alone. According to April 2023 data, the square meter price for homes for sale was 39,038 TL in Şile and 25,997 TL in Antalya. According to Endeksa’s data, house rents in Şile increased by 144% over the past year and by 739% over the past three years. In Antalya, house rents increased by 79% in the last year and by 434% in the last three years.

A 675% Increase in Bodrum’s Sale Market Over the Last Three Years

Thanks to its social amenities, wide-ranging and quality infrastructure, and transportation convenience, Bodrum stands out as the first choice among summer resorts. According to Endeksa’s data, the increase in house prices in Bodrum was 93% over the past year, and as of April 2023, the sale price per square meter reached 60,456 TL levels. The highest price increase in Bodrum was seen in the Gümbet region with a 160% increase, with Yalıkavak leading the pack in sales price per square meter at 79,122 TL. The increase in sales prices over the last three years in Bodrum averages an impressive 675%.

The Most Stock in Summer Houses for Sale is in Antalya with 5,744 Units

As of April 2023, Antalya holds the most stock in summer houses for sale with 5,744 units. Antalya is followed by Kuşadası with 4,205, Alanya with 2,425, and Bodrum with 2,210 units in general.

Şile takes the top spot with a 100% increase rate in stock for summer houses for sale over the past year. It is followed by Bodrum Turgutreis with a 65% increase, and Foça and Antalya each seeing a 36% increase. Fethiye, Alaçatı, and Bodrum Bitez regions see stable changes in stock quantities. As of April 2023, Antalya again holds the highest stock for summer

rental houses with 2068 units, followed by Bodrum with 1470 units and Alanya with 821 units.

The Stock Level of Rental Houses Shows a Decrease

However, according to the percentage changes of rental house stocks on an annual basis, rental house stock levels in summer regions across Turkey are showing a decline. The largest decline in house stocks is seen in Çanakkale with -38%. Silivri follows Çanakkale with a -35% drop, Bodrum Torba with -28%, and Antalya with -25%.

The Impact of the Earthquake is Observed in Mersin’s Rental Market

The increase in the rental house market in summer regions follows a similar trajectory to the sale market. However, Mersin stands out significantly in the national rental house market due to it being a favored choice for those affected by the earthquake and its advantages as a summer region. The rental house prices in Mersin increased by 124% over the past year, and the square meter price of rental houses reached 78.69 TL. This figure stands at 108% in Kuşadası, 133% in Çanakkale, and 117% in Fethiye.

High Foreign Demand for Alanya

Following political developments, the district that received the most demand from foreigners was Alanya. The main factor in this increase is the rise in the foreign population. Rents in Alanya have increased by 613% over the past three years, and by 98% over the past year. In the sales market, the increase in Alanya over the past three years was 815%, and the value increase over the past year was 130%.

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