Real estate in Istanbul rises in price by 49%

Real estate prices in Istanbul soared 49% in February compared to January, Report informs referring to foreign media.

The average price per square meter in the city has reached about $1,361.

Presently, buying an apartment in Istanbul will cost an average of $163,000.

An earthquake in Türkiye in early February that killed more than 50,000 people increased activity in the Turkish property market and led to higher prices. The cataclysm has also increased demand for safer parts of Istanbul where people are seeking to move.