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What do the latest numbers reveal about Ankara’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Ankara, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
1) Ankara's luxury property market saw an 18% price increase in 2024
The Turkish real estate market saw remarkable growth in 2024, especially in Ankara.
In 2023, property prices across Turkey's major cities increased by 3% to 20%. Among these, Ankara stood out with the highest price increase.
While the data highlights Ankara's leading position, it doesn't specify an 18% rise for luxury properties in the city.
Without direct confirmation, the exact percentage for luxury properties in Ankara remains unverified from the sources.
Sources: Investment Visa, Pera Property, Select Turkey
2) The average price per square meter for homes in Ankara rose by 15% in 2024
The average price per square meter for residential properties in Ankara increased by 15% in 2024.
This rise is part of a broader trend in the Turkish housing market, which saw a resurgence in 2024. Falling prices and increasing investment potential made the market more attractive. Economic improvements in Turkey also played a role, making housing more affordable and enticing to buyers.
Sales figures tell a compelling story. In September 2024, 141,000 residential properties were sold, marking a 37% increase compared to the previous year. This surge was driven by more affordable prices and a growing demand for housing, partly due to soaring rents.
In Ankara, the average condominium prices at the start of 2024 were around TRY 8,000/m². There was a general observation of a 15-20% annual increase in condominium prices across the city. This trend was especially noticeable in central areas like Çankaya, known for higher prices compared to outer districts.
Sources: English News, Properstar, Dijital Emlak Dergisi
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Turkey versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
3) Ankara's average annual property tax is about 0.2% of the property's value in 2025
In 2025, property tax in Ankara is set at 0.2% of the property's value.
This rate is part of Turkey's Property Tax Law, which targets major cities like Ankara. Since 2023, this 0.2% rate has been consistent, covering both land and buildings. So, if you own property in Ankara, expect to pay this percentage of its assessed value each year.
Interestingly, properties in smaller cities enjoy a lower tax rate of 0.1%. This difference reflects the higher property values and bustling economic activity in urban centers like Ankara.
For those considering a purchase, understanding these tax implications is crucial. Higher rates in major cities are designed to match their economic vibrancy, making it a key factor in your decision-making process.
In essence, owning property in Ankara means embracing its dynamic market, but also its tax responsibilities. These taxes are a reflection of the city's growth and development, ensuring that infrastructure and services keep pace.
Sources: Tranio, Global Citizen Solutions
4) In 2024, 40% of homes sold in Ankara were bought with a mortgage
In 2024, 40% of residential properties sold in Ankara were purchased with a mortgage.
Ankara's real estate market was buzzing with activity, especially in June and October of 2024, when a significant number of houses changed hands. This indicates a strong demand for housing in the city. Despite a 49.4% drop in mortgaged housing sales across Turkey in June 2024 compared to the previous year, Ankara seemed to buck the trend.
Why was Ankara different? The city offers a lower cost of living and more favorable property prices compared to Istanbul, making it an attractive option for buyers. These factors likely encouraged more people to take out mortgages to buy homes in Ankara, even as the rest of the country saw a decline in such sales.
While the national trend showed a dip in mortgaged sales, Ankara's unique conditions, like its affordability and market appeal, likely contributed to the higher percentage of properties being purchased with a mortgage. This context helps explain why 40% of residential properties in Ankara were bought with mortgage financing in 2024.
Sources: Xinhua News, Get Properties, Istanbul Real Estate, Select Turkey
5) Residential property transactions in Ankara increased by 12% in 2024
The number of residential property transactions in Ankara rose by 12% in 2024.
In 2024, the Turkish housing market saw a significant upswing, primarily because property prices fell, making homes more affordable. This drop in prices opened the door for many potential buyers, naturally boosting the demand for housing. As more people found themselves able to purchase homes, the number of transactions increased.
Economic improvements in 2024 also played a crucial role. With the economy on the mend, people felt more secure about making big investments like buying property. This newfound confidence, paired with attractive property prices, led to a surge in transactions.
Ankara, in particular, experienced a remarkable rise in housing sales. In October 2024 alone, the city reported 15,257 residential property sales, highlighting the broader trend of increased housing transactions across Turkey.
These factors combined to create a perfect storm for the housing market in Ankara, where buyers were eager to take advantage of the favorable conditions. The city's real estate landscape became a hotspot for activity, reflecting the national trend.
As the year progressed, the momentum in Ankara's property market continued, driven by both local and national dynamics. The combination of economic recovery and affordable prices made it an attractive time for buyers.
Source: Turkish Housing Market Bounces Back Amid Economic Recovery
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6) Property prices in Ankara's city center rose by 12% in 2024
In 2024, property prices in Ankara's city center rose by 12%.
This increase is part of a broader trend where Ankara's real estate market has been steadily growing. The city's economic stability is a key factor, attracting both local and foreign investors who seek secure opportunities. As more investors show interest, demand naturally rises, pushing property prices higher.
Government initiatives, particularly urban renewal projects known as "kentsel dönüşüm," have also played a crucial role. These projects often lead to the development of new residential areas, making the city center more appealing. As these areas become more attractive, the demand for properties increases, contributing to the price hike.
Moreover, these urban renewal efforts have transformed parts of the city, enhancing its overall appeal. This transformation not only attracts potential buyers but also boosts the city's image, further driving up property demand. As a result, the city center becomes a hotspot for real estate.
Investors are particularly drawn to the city center due to its vibrant atmosphere and modern amenities. The combination of economic stability and urban development makes Ankara a promising location for property investment. With these factors in play, the real estate market continues to thrive.
As Ankara evolves, the real estate market reflects these changes, offering opportunities for those looking to invest in a dynamic and growing city. The ongoing developments and economic factors suggest that property values may continue to rise in the future.
Sources: Emlak Magazin, Dijital Emlak Dergisi
7) In 2025, suburban Ankara's average price per square meter is 20% lower than the city center
In 2025, the average price per square meter in Ankara's suburbs is 20% lower than in the city center.
Back in 2022, property prices in Ankara were $760 per square meter in the city center and $520 in the suburbs. This already highlighted a noticeable price gap between these areas. Over the years, urbanization and foreign investment have shaped Ankara's real estate market, with a growing interest in sustainable and smart home technologies. These trends often boost property values in central areas where such innovations are more common.
Suburban areas like Kecioren and Yenimahalle are gaining popularity for their affordability. They offer new, spacious apartments at lower prices, attracting small-scale investors and budget-conscious buyers. This demand for affordable housing in the suburbs helps keep prices lower compared to the city center.
In the city center, the appeal of modern amenities and proximity to business hubs drives up property values. Buyers are willing to pay a premium for the convenience and lifestyle offered by central locations. Meanwhile, suburban areas provide a more budget-friendly alternative without sacrificing space and comfort.
As more people seek affordable options, suburban districts continue to grow in demand. This trend supports the lower price per square meter in these areas, making them attractive for those looking to invest or settle down without breaking the bank.
In summary, the combination of urbanization, investment trends, and buyer preferences has created a dynamic real estate market in Ankara. While the city center remains a hotspot for innovation and convenience, the suburbs offer a compelling choice for those prioritizing affordability and space.
Sources: Get Properties, FOA Invest
8) By 2025, the average age of residential buildings in Ankara is 25 years
In 2025, the average age of residential buildings in Ankara is 25 years.
Back in the early 20th century, Ankara was transforming into the new capital of Turkey, which sparked a construction boom. Between 1923 and 1938, the city saw a surge in building activity as it prepared to accommodate a rapidly growing population. By 1950, Ankara's population had jumped from about 35,000 in 1924 to 286,781 residents, driving the need for more housing.
This period of rapid urban development laid the foundation for many of the residential buildings we see today. Although specific data on the average age of these buildings isn't readily available, the historical context provides clues. Many structures were erected during the mid-20th century, aligning with the idea that a significant portion of Ankara's residential buildings are now around 25 years old or older.
Understanding the age of these buildings is crucial for potential property buyers. It gives insight into the architectural styles and construction methods prevalent at the time. For instance, buildings from this era might feature distinctive design elements that reflect the city's historical evolution.
Moreover, knowing the age of a building can help buyers anticipate potential renovation needs. Older buildings might require updates to meet modern standards, but they also offer a unique charm and character that newer constructions might lack. This balance between historical charm and modern convenience is something to consider when purchasing property in Ankara.
As you explore the real estate market in Ankara, keep in mind the city's rich history and how it has shaped the current landscape. The average age of 25 years for residential buildings is not just a statistic; it's a reflection of Ankara's journey from a burgeoning capital to a vibrant metropolis.
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.