Balıkesir Earthquake Renews Focus on Housing Safety and Price Gaps Across Turkey
earthquake
The 6.1-magnitude earthquake that struck Balıkesir has reignited concerns over housing safety and property prices. According to Turkish Statistical Institute (TÜİK) data, June 2025 saw a 35.8% year-on-year increase in home sales, with Balıkesir ranking among Turkey’s 10 most expensive provinces at ₺37,754 per square meter.
The price gap between the most and least expensive cities has reached 4.5 times, with some provinces seeing per-square-meter prices drop below the minimum wage.
Following the quake, many residents in Balıkesir and neighboring provinces spent the night in parks and open spaces, avoiding their homes due to aftershocks and fears over structural safety. The earthquake’s potential impact on real estate demand and pricing has become a topic of public debate.
Nationwide, home sales in June 2025 rose to 107,723 units, while the first half of the year saw a 26.9% increase to 691,893 units. The Housing Price Index climbed 32.8% annually in June. Although real prices continue to show a slight downward trend, the loss is limited to 1.7%.
According to Türkiye Gazetesi, both Istanbul and Balıkesir — hit by multiple earthquakes above magnitude 6.0 this year — are among the top 10 most expensive housing markets. In contrast, Adıyaman and Osmaniye, heavily affected by the 2023 earthquake disaster, are among the cheapest.
