Authored by the expert who managed and guided the team behind the Turkey Property Pack
Yes, the analysis of Istanbul's property market is included in our pack
If you're a foreigner thinking about buying an apartment in Istanbul, you probably want to know what it actually costs in 2026.
This guide breaks down everything from average prices and neighborhood differences to closing costs and ongoing expenses, all in plain language.
We constantly update this blog post to keep the numbers fresh and relevant.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Istanbul.
Insights
- The price gap between Istanbul's cheapest and most expensive neighborhoods is roughly 5 to 6 times, with Esenyurt at around 27,000 TRY per square meter versus Beşiktaş at over 150,000 TRY per square meter.
- Foreign buyers in Istanbul typically need a 35% to 50% cash down payment in practice, even though Turkish mortgage regulations technically allow up to 80% loan-to-value for residents.
- New-build apartments in Istanbul cost about 15% to 25% more per square meter than comparable resale units, largely due to updated earthquake-resistant construction standards.
- Winter natural gas bills in Istanbul apartments can spike to 5,000 TRY or more per month, making heating the single biggest variable in your annual utility budget.
- Compulsory earthquake insurance (DASK) is legally required before you can register a property purchase in Istanbul, with annual premiums typically ranging from 1,500 to 6,000 TRY.
- Istanbul's average apartment price sits around 4.6 million TRY, but the median is closer to 3.9 million TRY because luxury Bosphorus properties pull the average up significantly.
- Buyer closing costs in Istanbul typically run between 6% and 9% of the purchase price, with the title deed transfer tax being the largest single expense.
- HOA fees (aidat) in modern Istanbul complexes with pools, gyms, and security can reach 10,000 TRY per month or more, compared to just 800 to 2,500 TRY in older simple buildings.
How much do apartments really cost in Istanbul in 2026?
What's the average and median apartment price in Istanbul in 2026?
As of January 2026, the average apartment price in Istanbul is approximately 4.6 million TRY (around 107,000 USD or 102,000 EUR), while the median sits lower at about 3.9 million TRY (roughly 91,000 USD or 87,000 EUR).
When you look at price per square meter, Istanbul apartments average around 58,000 TRY per square meter (about 1,350 USD or 1,290 EUR per square meter), which translates to roughly 125 USD or 120 EUR per square foot, though the median price per square meter is closer to 52,000 TRY.
Most standard apartments in Istanbul fall within a price range of 2.5 million to 7 million TRY (58,000 to 163,000 USD or 56,000 to 156,000 EUR), covering everything from modest units in outer districts to decent family apartments in established neighborhoods.
How much is a studio apartment in Istanbul in 2026?
As of January 2026, a typical studio apartment in Istanbul costs around 2.2 million TRY (approximately 51,000 USD or 49,000 EUR) for a standard 35 square meter unit.
Entry-level to mid-range studio apartments in Istanbul generally fall between 1.7 and 2.5 million TRY (40,000 to 58,000 USD or 38,000 to 56,000 EUR), while high-end or luxury studios in prime districts like Beşiktaş or Kadıköy can reach 4 to 6 million TRY (93,000 to 140,000 USD or 89,000 to 133,000 EUR).
Studio apartments in Istanbul typically range from 30 to 40 square meters, and they often command a higher price per square meter than larger units because of strong demand from first-time buyers, investors, and students.
How much is a one-bedroom apartment in Istanbul in 2026?
As of January 2026, a typical one-bedroom apartment in Istanbul costs around 3.2 million TRY (approximately 74,000 USD or 71,000 EUR) for a standard 55 square meter unit.
Entry-level to mid-range one-bedroom apartments in Istanbul typically range from 2.4 to 3.5 million TRY (56,000 to 81,000 USD or 53,000 to 78,000 EUR), while high-end or luxury one-bedrooms in sought-after areas like Şişli or waterfront Sarıyer can reach 5 to 8 million TRY (116,000 to 186,000 USD or 111,000 to 178,000 EUR).
One-bedroom apartments in Istanbul generally measure between 50 and 60 square meters, making them popular among young professionals and couples looking for their first home in the city.
How much is a two-bedroom apartment in Istanbul in 2026?
As of January 2026, a typical two-bedroom apartment in Istanbul costs around 4.8 million TRY (approximately 112,000 USD or 107,000 EUR) for a standard 85 square meter unit.
Entry-level to mid-range two-bedroom apartments in Istanbul typically fall between 3.5 and 5.5 million TRY (81,000 to 128,000 USD or 78,000 to 122,000 EUR), while high-end or luxury two-bedrooms in premium neighborhoods like Bebek or Etiler can range from 8 to 15 million TRY (186,000 to 349,000 USD or 178,000 to 333,000 EUR).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Istanbul.
How much is a three-bedroom apartment in Istanbul in 2026?
As of January 2026, a typical three-bedroom apartment in Istanbul costs around 6.5 million TRY (approximately 151,000 USD or 144,000 EUR) for a standard 120 square meter unit.
Entry-level to mid-range three-bedroom apartments in Istanbul typically range from 5 to 7.5 million TRY (116,000 to 174,000 USD or 111,000 to 167,000 EUR), while high-end or luxury three-bedrooms in exclusive areas like Bosphorus-view Sarıyer or central Nişantaşı can reach 12 to 25 million TRY (279,000 to 581,000 USD or 267,000 to 556,000 EUR) or more.
Three-bedroom apartments in Istanbul typically measure between 110 and 140 square meters, and they often trade at a slightly lower price per square meter than smaller units because larger family apartments face less intense competition from investors.
What's the price gap between new and resale apartments in Istanbul in 2026?
As of January 2026, new-build apartments in Istanbul typically cost about 15% to 25% more per square meter than comparable resale apartments in the same neighborhood.
For new-build apartments in Istanbul, the average price per square meter is approximately 67,000 to 73,000 TRY (1,560 to 1,700 USD or 1,490 to 1,620 EUR per square meter), reflecting modern construction standards and amenities.
Resale apartments in Istanbul average around 52,000 to 58,000 TRY per square meter (1,210 to 1,350 USD or 1,160 to 1,290 EUR per square meter), though prices vary significantly based on building age, condition, and earthquake compliance of the structure.
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Can I afford to buy in Istanbul in 2026?
What's the typical total budget (all-in) to buy an apartment in Istanbul in 2026?
As of January 2026, the typical all-in budget to buy a standard apartment in Istanbul is approximately 4.9 to 5.1 million TRY (114,000 to 119,000 USD or 109,000 to 113,000 EUR), which includes both the purchase price and all buyer-side costs.
Beyond the purchase price, your all-in budget in Istanbul needs to cover the title deed transfer tax (tapu harcı), compulsory earthquake insurance (DASK), valuation reports, translator fees if you don't speak Turkish, notary costs, and potentially an agent commission.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Istanbul property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Istanbul.
What down payment is typical to buy in Istanbul in 2026?
As of January 2026, foreign buyers purchasing an apartment in Istanbul typically need a down payment of 35% to 50% of the purchase price, which translates to roughly 1.6 to 2.3 million TRY (37,000 to 53,000 USD or 36,000 to 51,000 EUR) for an average-priced unit.
Turkish banking regulations technically allow loan-to-value ratios up to 80% for qualified resident borrowers, meaning a minimum down payment of 20%, but foreign buyers often face stricter requirements in practice.
To secure favorable mortgage terms in Istanbul, or to avoid the high Turkish lira interest rates altogether, most foreign buyers budget for at least 35% cash upfront, with many opting to pay entirely in cash.
You can also read our latest update about mortgage and interest rates in Turkey.
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.
Which neighborhoods are cheapest or priciest in Istanbul in 2026?
How much does the price per m² for apartments vary by neighborhood in Istanbul in 2026?
As of January 2026, apartment prices per square meter in Istanbul range from approximately 27,000 TRY (630 USD or 600 EUR) in budget districts to over 150,000 TRY (3,490 USD or 3,330 EUR) in premium neighborhoods, representing roughly a 5 to 6 times price gap across the city.
In Istanbul's most affordable neighborhoods like Esenyurt, Sultanbeyli, and Arnavutköy, typical prices per square meter hover around 25,000 to 35,000 TRY (580 to 810 USD or 560 to 780 EUR), offering entry points for budget-conscious buyers.
In Istanbul's most expensive neighborhoods like Beşiktaş (around 150,000 TRY per square meter), Kadıköy (around 144,000 TRY per square meter), and Sarıyer's Tarabya area (around 136,000 TRY per square meter), you're paying a significant premium for central locations, Bosphorus proximity, and established infrastructure.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Istanbul.
What neighborhoods are best for first-time buyers on a budget in Istanbul in 2026?
As of January 2026, the top three neighborhoods best suited for first-time buyers on a budget in Istanbul are Esenyurt, Beylikdüzü, and Pendik, all offering significantly lower entry prices than the city's central districts.
In these budget-friendly Istanbul neighborhoods, typical apartment prices range from 1.5 to 3.5 million TRY (35,000 to 81,000 USD or 33,000 to 78,000 EUR), making homeownership accessible without the price tags of inner-city areas.
These neighborhoods offer good value through newer housing stock in many pockets, developing metro connections, shopping centers, and family-oriented communities that provide everyday conveniences at lower costs.
The main trade-off of buying in these budget-friendly Istanbul neighborhoods is the longer commute to central business districts, with some areas requiring 60 to 90 minutes to reach core employment centers, plus variable building quality and earthquake risk that requires careful due diligence.
Which neighborhoods have the fastest-rising apartment prices in Istanbul in 2026?
As of January 2026, the top three neighborhoods with the fastest-rising apartment prices in Istanbul are Kağıthane, Başakşehir, and the Pendik-Kartal corridor on the Asian side, all showing strong momentum due to urban transformation projects.
These fast-appreciating Istanbul neighborhoods have seen estimated year-over-year nominal price increases of 40% to 60% in Turkish lira terms, though real (inflation-adjusted) gains are more modest given Turkey's economic environment.
The main driver behind rapid price growth in these Istanbul neighborhoods is a combination of new metro line extensions, large-scale urban regeneration projects replacing older building stock, and catch-up dynamics as buyers seek value outside the already-expensive central districts.
You can also read our latest update about property price forecasts in Istanbul.
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What extra costs will I pay on top of the apartment price in Istanbul in 2026?
What are all the buyer closing costs when you buy an apartment in Istanbul?
For a typical apartment purchase in Istanbul, total buyer closing costs amount to approximately 280,000 to 410,000 TRY (6,500 to 9,500 USD or 6,200 to 9,100 EUR) on a 4.6 million TRY property.
The main categories of closing costs buyers must pay in Istanbul include the title deed transfer tax (tapu harcı), title deed office service fees, compulsory earthquake insurance (DASK), valuation report costs, and if you're a foreigner, translator and document handling fees.
The title deed transfer tax is typically the largest closing cost expense for buyers in Istanbul, and while it's officially split between buyer and seller, negotiation often determines who actually pays what portion in practice.
Several closing costs in Istanbul are negotiable or can vary between transactions, particularly the title deed tax split, agent commissions, and the scope of legal or translation services you choose to use.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Istanbul?
Buyers in Istanbul should typically budget around 7% to 7.5% of the purchase price for closing costs, which serves as a reliable planning figure for most standard apartment transactions.
The realistic range for buyer closing costs in Istanbul spans from about 6% on the low end (when you negotiate a favorable title deed tax split and handle documentation simply) to 9% on the high end (when you shoulder more of the deed tax, need extensive translation services, and have complex valuation requirements).
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Istanbul.
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.
What are the ongoing monthly and yearly costs of an apartment in Istanbul in 2026?
What are typical HOA fees in Istanbul right now?
HOA fees (called "aidat" in Turkish) are common in Istanbul, and the typical monthly fee for a standard apartment is around 3,500 TRY (approximately 80 USD or 78 EUR), though this varies enormously by building type.
In older, simpler Istanbul buildings without amenities, HOA fees typically range from 800 to 2,500 TRY per month (19 to 58 USD or 18 to 56 EUR), while modern "site" residences with pools, gyms, 24-hour security, and landscaped grounds can charge 5,000 to 10,000 TRY per month (116 to 233 USD or 111 to 222 EUR) or even more for luxury complexes.
What utilities should I budget monthly in Istanbul right now?
For a typical 80 square meter apartment in Istanbul, the estimated total monthly utility cost averages around 3,000 TRY (approximately 70 USD or 67 EUR), though this can swing significantly by season.
The realistic range of monthly utility costs in Istanbul spans from about 1,500 TRY in mild months to 7,000 TRY or more in winter (35 to 163 USD or 33 to 156 EUR), depending on your heating needs, household size, and consumption habits.
Your typical monthly utility budget in Istanbul includes electricity (600 to 1,800 TRY), water and wastewater (300 to 900 TRY), natural gas (200 to 5,000 TRY depending on season), and internet or mobile services (400 to 1,000 TRY).
Natural gas for heating is by far the most expensive utility for Istanbul apartment owners, with winter bills routinely reaching 3,000 to 5,000 TRY per month and potentially higher in cold snaps or larger units.
How much is property tax on apartments in Istanbul?
The typical annual property tax for an apartment in Istanbul ranges from approximately 3,000 to 12,000 TRY (70 to 280 USD or 67 to 267 EUR), depending on your property's assessed tax value and municipality.
Property tax in Istanbul is calculated at roughly 0.2% of the property's assessed tax value per year (officially "binde 2" for metropolitan municipalities), but importantly, this assessed value is often lower than the actual market price you paid.
The realistic range of annual property tax in Istanbul depends heavily on how the local municipality assesses your property, with modest apartments in outer districts paying closer to 3,000 TRY annually and larger or centrally located apartments reaching 10,000 to 12,000 TRY or more.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Istanbul.
What's the yearly building maintenance cost in Istanbul?
The estimated typical yearly building maintenance cost for Istanbul apartment owners is around 14,000 to 37,000 TRY (330 to 860 USD or 310 to 820 EUR) when averaged over time, representing approximately 0.3% to 0.8% of your apartment's value annually.
The realistic range of yearly maintenance costs in Istanbul varies significantly by building age and type, with newer buildings requiring less immediate outlay and older buildings potentially facing larger one-time assessments for facade repairs, elevator replacements, or earthquake retrofitting.
Building maintenance costs in Istanbul typically cover major repairs and capital improvements that go beyond regular monthly HOA fees, including roof repairs, facade restoration, elevator modernization, generator maintenance, and shared infrastructure upgrades.
In most Istanbul buildings, major maintenance costs are collected separately from monthly HOA fees through special assessments when needed, though some well-managed buildings maintain reserve funds within their regular aidat structure.
How much does home insurance cost in Istanbul?
The estimated typical annual home insurance cost for an Istanbul apartment includes two components: compulsory earthquake insurance (DASK) at around 1,500 to 6,000 TRY (35 to 140 USD or 33 to 133 EUR), plus optional contents and broader coverage at roughly 3,000 to 12,000 TRY (70 to 280 USD or 67 to 267 EUR).
The realistic range of annual home insurance costs in Istanbul depends primarily on your coverage level, apartment size, construction type, and the value of contents you choose to insure, with comprehensive packages potentially reaching 15,000 to 18,000 TRY annually for well-protected properties.
Earthquake insurance (DASK) is mandatory for apartment owners in Istanbul, and you cannot complete a property purchase without having valid DASK coverage in place, while broader home and contents insurance remains optional but highly recommended given Istanbul's seismic risk.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Istanbul, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Central Bank of Turkey (CBRT) - RPPI | Turkey's central bank publishes the official quality-adjusted housing price index. | We used it to anchor our January 2026 price level assumptions and justify month-to-month extrapolations from November 2025 data. |
| CBRT Monthly RPPI Report (Nov 2025) | This is the official monthly publication with the latest city-level index movements. | We used it to quantify Istanbul's official monthly change (+2.5% in November 2025) and project that momentum into January 2026. |
| REIDIN Property Indices (Nov 2025) | REIDIN is a well-established Turkish property index provider with documented methodology. | We used it as an independent cross-check on the direction and pace of housing price changes near early 2026. |
| Endeksa - Istanbul Province Analytics | Endeksa is a major Turkish housing analytics platform with systematic, frequently updated metrics. | We used it for absolute Istanbul price levels (TRY per square meter and typical home values), then adjusted into January 2026 using CBRT's monthly pace. |
| Endeksa - Beşiktaş District | Transparent district-level data from a major housing platform. | We used it to show what premium Istanbul pricing looks like and illustrate how large intra-city price spreads can be. |
| Endeksa - Kadıköy District | Consistent district-level dataset from a trusted platform. | We used it as the high-demand Asian-side benchmark and compared it to budget districts for practical neighborhood guidance. |
| Endeksa - Esenyurt District | One of Istanbul's most searched budget districts with clear published figures. | We used it as a realistic low-price reference point for first-time buyer budgets and to quantify price gaps versus core districts. |
| Endeksa - Tarabya (Sarıyer) | Neighborhood-level datapoint useful for micro-location pricing analysis. | We used it to show that within a premium district like Sarıyer, individual neighborhoods still vary materially in price. |
| Turkish Statistical Institute (TÜİK) | Turkey's official national statistics agency. | We used it to ground the article in official housing market activity data including sales volumes and foreign buyer trends. |
| Revenue Administration (GİB) - Property Tax | The national tax authority's official public guidance. | We used it to explain what property tax is and how it's applied, then translated that into practical annual budgeting estimates. |
| Mevzuat - Property Tax Law | Official consolidated text of Turkish legislation. | We used it to validate the legal basis for property tax rates including metropolitan municipality treatment. |
| DASK - Earthquake Insurance Tariffs | The official compulsory earthquake insurance system for Turkey. | We used it to explain the mandatory insurance component and estimate realistic annual insurance budget ranges for Istanbul apartments. |
| İSKİ - 2026 Water Tariffs | Istanbul's official municipal water and sewer utility provider. | We used it to justify water and wastewater monthly budgets using official tariffs and typical household consumption. |
| İGDAŞ - Gas Tariffs | Istanbul's official natural gas distribution company. | We used it to ground gas-related costs in official tariff sources and translate typical winter consumption into practical monthly ranges. |
| EPDK - Electricity Tariffs | Turkey's national energy market regulatory authority. | We used it to explain why electricity bills vary by consumption tier and to provide practical utility budgeting ranges. |
| Your Key Türkiye - Valuation Reports | Official government information portal for foreign property buyers. | We used it to explain valuation documentation requirements for foreign buyers and describe the TADEBİS/TTB process. |
| BDDK - Housing Loan LTV Rules | Turkey's banking regulation and supervision agency. | We used it to anchor what typical down payments mean in regulated Turkish mortgage terms and adjust for foreign buyer realities. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Turkey. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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