Turkey · Middle East · Population: 4,400,000
Izmir is moderately affordable compared to major global cities, with rapidly rising prices driven by strong demand. The city has affordable rents compared to global standards. At $110,000 average home price in Turkey, buyers should consider the 7.2x price-to-income ratio when planning a purchase.
| Average Home Price | $110,000 |
| Price per sqm | $1,800 |
| Price-to-Income Ratio | 7.2x |
| Mortgage Rate | 42.0% |
| 1-Year Price Change | +30.0% |
| 1-Bedroom Apartment | $400/mo |
| 3-Bedroom Apartment | $700/mo |
| Rent-to-Income Ratio | 25% |
| Median Household Income | $15,000/year |
| Years to Buy (at median income) | 7.2 years |
| Local Currency | TRY |
With a price-to-income ratio of 7.2x, Izmir offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 30.0% in the past year.
Cities worldwide with home prices closest to Izmir
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