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Ankara property prices are surging dramatically in nominal terms, with average residential property prices rising by 36.6% year-on-year in January 2025. However, when adjusted for Turkey's high inflation rate of 39%, the real price growth shows a modest decline of 3.9%, creating a complex investment landscape for both domestic and foreign buyers looking to enter Turkey's capital city market.
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Ankara residential property prices experienced a 36.6% nominal increase in 2025, making it one of Turkey's fastest-growing property markets.
Despite strong nominal gains, inflation-adjusted real prices declined by 3.9%, reflecting the impact of Turkey's 39% inflation rate on purchasing power.
| Metric | Current Value (2025) | Year-on-Year Change |
|---|---|---|
| Average Price per m² | TRY 29,764 (US$815) | +36.6% (nominal) |
| Real Price Change | -3.9% (inflation-adjusted) | Decline due to 39% inflation |
| Average Apartment Price | $70,000 - $200,000 | +30-35% range |
| Rental Yields | 5.4% - 9.5% (avg: 8.29%) | Strong performance vs. other cities |
| Home Sales Volume | 39.7% increase (January 2025) | Significant demand surge |
| Central Bank Rate | 46% (as of June 2025) | +3.5% from previous rate |
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
What are the current average property prices in Ankara as of June 2025?
The average price per square meter for residential properties in Ankara stands at TRY 29,764 (approximately US$815) as of mid-2025.
Apartment prices in Ankara typically range from $70,000 for a one-bedroom unit to $200,000 for larger or more centrally located properties. In Turkish Lira terms, apartments generally cost between 3.5 million to 8 million TRY, reflecting the significant impact of currency fluctuations on property values.
The median apartment price reached TRY 40,194 per square meter according to recent property listings, while houses command higher prices at TRY 66,274 per square meter. This pricing structure makes Ankara significantly more affordable than Istanbul, where prices average TRY 55,503 per square meter, representing a 40-45% discount for buyers choosing Turkey's capital over its largest city.
With an average residential property size of approximately 130 square meters, total property values typically fall between $85,000-$90,000 for standard apartments in Ankara's residential market.
How much have property prices increased in Ankara over the past year?
Ankara residential property prices surged by an extraordinary 36.6% year-on-year in January 2025, outpacing both Istanbul (29.6%) and Izmir (29.6%) to become Turkey's fastest-growing major property market.
However, when adjusted for Turkey's high inflation rate of 39.05% in February 2025, real property prices actually declined by 3.9%, highlighting the complex relationship between nominal price growth and actual purchasing power. This inflation-adjusted decline is significantly smaller than Istanbul's 8.8% real price drop, indicating that Ankara properties have maintained better value retention relative to other major Turkish cities.
Home sales volume in Ankara increased dramatically by 39.7% year-on-year in January 2025, demonstrating strong demand despite high interest rates. This sales surge occurred alongside a 4.8% nationwide decline in property listings, creating a supply-demand imbalance that has contributed to continued price pressures.
Real estate prices in Ankara have increased by more than 135% over the past two years in USD terms, making it one of the most significant property appreciation stories globally during this period.
Which districts in Ankara are experiencing the fastest price growth currently?
Sincan district leads Ankara's price growth with a remarkable 94.3% year-on-year increase in house prices during 2023, driven by affordability factors and major infrastructure developments including the Organized Industrial Zone Railway Project.
Mamak district is experiencing rapid value appreciation due to large-scale urban renewal projects and improved transportation links, making it a hotspot for both local and international investors seeking growth opportunities.
Several outer districts including Beypazarı, Polatlı, Çubuk, Kalecik, Haymana, Ayash, and Kızılcahamam have posted the highest price increases over the past two years, benefiting from their relative affordability and improving infrastructure connections to central Ankara.
Central districts like Çankaya and Keçiören continue to attract investors with strong rental yields of 8.07% and 10.19% respectively, while maintaining steady price appreciation due to their established commercial and residential infrastructure.
It's something we develop in our Turkey property pack.
What types of properties are seeing the biggest price surges in Ankara?
Apartments remain the most traded property type and have experienced the highest price increases, particularly new builds in rapidly developing districts like Sincan and Mamak.
New development projects are commanding premium prices and experiencing the fastest appreciation rates, especially properties in urban renewal areas where government investment is driving infrastructure improvements and neighborhood transformation.
Properties benefiting from urban renewal initiatives, particularly in Mamak's large-scale redevelopment zones, are seeing above-average price growth as these areas undergo significant modernization and infrastructure upgrades.
Villa properties are also experiencing price increases, though the market remains smaller and less liquid compared to the apartment sector, with fewer transactions but steady appreciation in established residential neighborhoods.
What is the current outlook for property prices in Ankara through 2026?
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Most analysts expect continued nominal price growth in Ankara through 2026, particularly as interest rates are forecast to decline from the current 46% to the 30-35% range by the end of 2025, improving affordability and stimulating demand.
The five-year outlook (2025-2030) anticipates sustained growth driven by Ankara's status as Turkey's administrative capital, ongoing urbanization trends, and continued infrastructure investment including metro expansions and urban renewal projects.
Real price growth is expected to range from 3-5% annually once inflation stabilizes, providing a more sustainable foundation for long-term investors compared to the current high-inflation environment.
Urban renewal and infrastructure projects, particularly in districts like Mamak and Sincan, are likely to drive above-average price growth in those specific areas as government investment transforms these neighborhoods into more desirable residential locations.
How do current interest rates affect property buying in Ankara?
Turkey's Central Bank raised its benchmark interest rate to 46% in April 2025, reversing previous cuts and significantly impacting mortgage affordability for domestic buyers.
The high interest rate environment has forced many buyers to opt for cash purchases, with mortgage-backed transactions becoming increasingly expensive for average Turkish households earning around TRY 22,105 per month (approximately $575).
Despite high rates, anticipation of future cuts has led to increased market activity, with mortgage-backed transactions nearly doubling in early 2025 as buyers positioned themselves ahead of expected rate reductions later in the year.
Government programs offering subsidized loans for buyers under 35 years old are helping to maintain some level of financed purchases, though these programs have limited capacity and strict eligibility requirements.
The rental market has strengthened significantly due to reduced buying capacity, with gross rental yields in Ankara ranging from 5.4% to 9.5% and averaging 8.29% city-wide, making buy-to-let investments attractive despite high financing costs.
What is driving demand for properties in Ankara currently?
Ankara's status as Turkey's political and administrative capital continues to attract both internal migrants and government professionals, creating steady underlying demand for residential properties.
Population growth and urbanization trends support long-term demand, with Ankara's estimated population of 5,477,090 in 2024 creating significant housing needs, particularly for rental accommodations among young professionals and students.
Infrastructure investment including new metro lines, highways, and urban renewal projects is boosting property values and attracting investors to developing districts with improved connectivity and modern amenities.
International education institutions like Ankara Yıldırım Beyazıt University and Bilkent Laboratory & International School are attracting international students and expatriate families, creating demand for both purchase and rental properties in educational districts.
High inflation has driven many Turkish citizens to view real estate as a hedge against currency devaluation, with properties serving as a store of value during periods of economic uncertainty.
How do Ankara property prices compare to other major Turkish cities?
| City | Avg. Price per m² (TRY) | Avg. Price per m² (USD) | YoY Price Increase (Nominal) |
|---|---|---|---|
| Istanbul | 55,503 | $1,520 | 29.6% |
| Ankara | 29,764 | $815 | 36.6% |
| Izmir | 40,595 | $1,112 | 30.9% |
| National Average | 36,061 | $988 | 31.95% |
Ankara remains significantly more affordable than both Istanbul and Izmir, with property prices approximately 40-45% lower than Istanbul's premium market rates.
Despite being the most affordable among Turkey's three largest cities, Ankara has achieved the highest nominal price growth rate at 36.6%, outperforming both Istanbul and Izmir in terms of appreciation.
Rental yields in Ankara average 8.29%, which compares favorably to Istanbul's 7.3% average and significantly exceeds coastal cities like Antalya at 5.73%, making Ankara attractive for income-focused investors.
We made this infographic to show you how property prices in Turkey compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It's an easy way to spot where you might get the best value for your money. We hope you like it.
What role do foreign buyers play in Ankara's property market?
Foreign buyers account for approximately 2.7% of total property sales in Ankara during 2024, a relatively small but growing segment compared to coastal cities like Antalya (34.6%) and major commercial centers like Istanbul (35.4%).
Turkey's Citizenship by Investment program, which requires a minimum $400,000 property investment, continues to attract international buyers to Ankara, particularly from Russia, Iran, and Ukraine seeking both investment opportunities and potential citizenship benefits.
International buyers are increasingly drawn to affordable districts like Sincan and developing areas around international educational institutions, where they can achieve both capital appreciation and rental income from student and expatriate communities.
Despite increased investment thresholds implemented in 2022, foreign interest in Ankara properties has shown resilience, with renewed activity observed in April 2025 after a temporary decline in early 2025.
Educational appeal factors including programs like the International Baccalaureate at international schools are making Ankara increasingly attractive to foreign families seeking quality education combined with real estate investment opportunities.
What government policies are impacting property prices in Ankara?
Large-scale urban renewal projects, particularly the Mamak Urban Renewal initiative, are transforming entire districts and driving significant property value increases through government-led infrastructure investment and neighborhood modernization.
Government housing programs providing subsidies and incentives for young buyers under 35 are supporting demand despite high interest rates, though these programs have limited capacity and specific eligibility requirements.
Infrastructure development including new metro lines, highway connections, and the Sincan Organized Industrial Zone Railway Project are strategically increasing property values in targeted districts through improved connectivity and economic development.
National housing policies focus on addressing the documented housing shortage in major cities like Ankara, with government reports highlighting the supply-demand imbalance that continues to support price appreciation.
It's something we develop in our Turkey property pack.
What are the key risks for property investors in Ankara currently?
High inflation rates at 39% create significant uncertainty for real purchasing power, with the risk that nominal price gains may not translate to real wealth preservation over time.
Interest rate volatility poses financing risks, with the Central Bank's recent surprise hike to 46% demonstrating the unpredictable nature of monetary policy that can suddenly impact affordability and demand.
Currency depreciation risk affects international investors, as the Turkish Lira's 3.4% decline against the USD over two months in early 2025 can erode returns for foreign currency-denominated investors.
Political and economic uncertainty, including recent market turmoil triggered by domestic political events, can cause sudden capital flight and property market volatility as evidenced by the Central Bank's need to spend $50 billion defending the currency.
Supply increases from ongoing construction and urban renewal projects may eventually moderate price growth as new inventory enters the market, particularly in rapidly developing districts.
Should investors buy property in Ankara now or wait?
Current market conditions present both opportunities and challenges, with strong nominal price growth offset by inflation concerns and high financing costs creating a complex investment environment.
Buyers with cash or access to low-cost financing may benefit from current opportunities, particularly in developing districts where government infrastructure investment is driving long-term value creation.
The anticipation of interest rate cuts later in 2025 suggests that waiting may result in increased competition and higher prices as financing becomes more accessible to domestic buyers.
Rental market strength with yields averaging 8.29% provides immediate income potential for buy-to-let investors, making current purchases viable even if capital appreciation moderates in the near term.
Long-term investors with a 5-10 year horizon may find current pricing attractive, particularly in districts benefiting from urban renewal and infrastructure development that will drive sustained demand growth.
It's something we develop in our Turkey property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Yes, property prices in Ankara are going up significantly. Despite real price declines when adjusted for inflation, the strong nominal growth of 36.6% year-on-year, combined with improving infrastructure, urban renewal projects, and anticipated interest rate cuts, indicates continued upward pressure on Ankara property prices.
The combination of government investment, population growth, and Ankara's strategic importance as Turkey's capital creates fundamental support for sustained price appreciation, making it an attractive market for both domestic and international investors with appropriate risk tolerance for emerging market dynamics.
Sources
- Global Property Guide - Turkey Residential Real Estate Market Analysis 2025
- Investropa - 15 strong trends for 2025 in the Ankara property market
- Esales Overseas Property - Property Market Predictions for Turkey in 2025
- Turkish Minute - Ankara tops global index with meteoric rise in house prices
- Imtilak Global - Prices of apartments in Ankara, Turkey 2025
- CNBC - Turkey's central bank surprises with 350-basis-point rate hike
- Reuters - Turkish central bank surprises with rate hike to 46% after market turmoil
- Bloomberg - Turkey Raises Interest Rates Amid Domestic Turmoil
- Damas Group - Latest Updates on Property Prices in 2025
- Travok Estate - Turkey bank interest rates 2025