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
This article covers the current housing prices in Istanbul as of the first half of 2026, based on the latest available data.
We constantly update this blog post to reflect the most recent market conditions.
Whether you're looking to invest or find a home, you'll find everything you need to understand Istanbul's property market right here.
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
- Istanbul property prices rose about 30% in Turkish lira over the past year, but when you adjust for inflation running at 31%, real prices are essentially flat in 2026.
- The average Istanbul apartment costs around 6.5 million TRY (about $151,000), but the median is closer to 5.85 million TRY because luxury homes pull the average up.
- Beşiktaş, one of Istanbul's most desirable districts, has an average property price of 19.2 million TRY, roughly three times the city-wide average.
- New construction in Istanbul typically commands a 12% premium over comparable existing homes, mainly due to earthquake safety standards and modern amenities.
- Listing prices in Istanbul tend to be about 7% higher than final sale prices, as buyers negotiate harder in a tight mortgage environment.
- Entry-level properties in outer districts like Esenyurt start around 3 million TRY ($70,000), while luxury villas in Sarıyer can exceed 60 million TRY ($1.4 million).
- The price gap between Istanbul's cheapest and most expensive neighborhoods is massive: Esenyurt averages 30,000 to 50,000 TRY per square meter, while Beşiktaş ranges from 100,000 to 250,000 TRY.
- Over the past decade, Istanbul property prices have risen about 1,400% in nominal Turkish lira terms, but in real (inflation-adjusted) terms, they are roughly flat.
What is the average housing price in Istanbul in 2026?
The median housing price is more telling than the average because a small number of very expensive properties can pull the average up, making the median a better reflection of what a typical buyer actually pays in Istanbul.
We are writing this as of the first half of 2026, using the latest data collected from authoritative sources including the Central Bank of Turkey and Endeksa, which we manually double-checked for accuracy.
The estimated median housing price in Istanbul in 2026 is around 5,850,000 TRY, which converts to approximately $136,000 or €117,000. The average housing price in Istanbul is higher at 6,495,000 TRY, or about $151,000 (€130,000), reflecting the impact of luxury properties on the overall figure.
Around 80% of residential properties in Istanbul in 2026 fall within a price range of 3.2 million to 11.4 million TRY, which translates to roughly $74,000 to $265,000.
A realistic entry range for Istanbul property in 2026 is 3 million to 4.5 million TRY ($70,000 to $105,000 or €60,000 to €90,000), which typically gets you an older 1+1 or small 2+1 apartment of 60 to 80 square meters in districts like Esenyurt or Pendik.
A typical luxury property in Istanbul in 2026 ranges from 25 million to 80 million TRY ($580,000 to $1.86 million or €500,000 to €1.6 million), and for that you can expect a newer or fully renovated 3+1 apartment of 160 to 220 square meters in premium areas like Beşiktaş or Sarıyer, often with parking, security, and Bosphorus proximity.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Istanbul.
Are Istanbul property listing prices close to the actual sale price in 2026?
In Istanbul in 2026, listing prices are typically about 7% higher than the final sale price buyers actually pay.
This gap exists mainly because mortgage affordability is tight in Turkey, forcing buyers to negotiate harder, and because sellers often price ahead of inflation expecting the market to catch up. The difference tends to be larger for properties that have been on the market for a long time or in less sought-after districts where demand is weaker.
Get fresh and reliable information about the market in Istanbul
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What is the price per sq m or per sq ft for properties in Istanbul in 2026?
As of early 2026, the average housing price in Istanbul is 56,978 TRY per square meter, which equals about $1,325 per sqm or $123 per square foot. The estimated median is lower at around 51,300 TRY per sqm ($1,193 per sqm or $111 per sqft), since luxury properties push the average up.
Smaller, well-located units like studios and 1+1 apartments in central areas have the highest price per square meter in Istanbul because buyers pay a premium for location and because fixed costs like kitchens and bathrooms are spread over fewer square meters, while larger, older apartments in outer districts have the lowest price per sqm due to commute times and renovation needs.
In Istanbul in 2026, you would find the highest prices per square meter in districts like Beşiktaş (100,000 to 250,000 TRY per sqm), Kadıköy (90,000 to 200,000 TRY), and Sarıyer, while the lowest ranges are in outer districts like Esenyurt (30,000 to 50,000 TRY per sqm), Pendik (35,000 to 55,000 TRY), and Beylikdüzü (38,000 to 58,000 TRY).
How have property prices evolved in Istanbul?
Compared to one year ago, Istanbul property prices have risen about 30% in Turkish lira terms. However, with inflation running at 31% over the same period, real prices are essentially flat, meaning your money buys about the same amount of property as it did a year ago.
Over the past ten years, Istanbul property prices have increased roughly 1,400% in nominal Turkish lira terms, meaning a property that cost 1 million TRY in 2016 would now cost around 15 million TRY. But when you adjust for Turkey's very high cumulative inflation over this decade, real prices are approximately flat, showing that housing has mostly kept pace with inflation rather than generating real gains.
By the way, we've written a blog article detailing the latest updates on property price variations in Istanbul.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing 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 types of properties are available in Istanbul and what do they cost in 2026?
Istanbul's property market in 2026 is dominated by apartments at roughly 78% of listings, followed by residence-style managed complexes at about 12%, townhouse or low-rise blocks at around 5%, and detached houses or villas making up the remaining 5%, reflecting Istanbul's dense urban character.
A 1+1 apartment (55 to 75 sqm) in Istanbul averages around 4 million TRY ($93,000 or €80,000), while a 2+1 apartment (85 to 110 sqm) costs about 6.5 million TRY ($151,000 or €130,000). A 3+1 apartment (130 to 160 sqm) averages around 9.5 million TRY ($221,000 or €190,000), residence-style units run about 10.5 million TRY ($244,000 or €210,000), and villas or detached homes average around 35 million TRY ($814,000 or €700,000) with significant variation by district.
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Istanbul?
- How much should you pay for an apartment in Istanbul?
- How much should you pay for a studio in Istanbul?
How do property prices compare between existing and new homes in Istanbul in 2026?
New construction in Istanbul in 2026 typically costs about 12% more than comparable existing homes in the same area.
This premium exists because newer buildings meet stricter earthquake safety codes, come with modern amenities like parking and security systems, and spare buyers the immediate renovation costs that older properties often require.
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How do property prices vary by neighborhood in Istanbul in 2026?
Beşiktaş is one of Istanbul's most prestigious districts, popular with expats for its central location, proximity to international schools, and vibrant lifestyle. Prices here are among the highest in the city, with averages around 19.2 million TRY ($447,000) and a range typically from 15 million to 60 million TRY ($349,000 to $1.4 million) for apartments in areas like Etiler and Levent.
Kadıköy on the Asian side is known for its walkable coastal neighborhoods like Moda and Fenerbahçe, with a strong café culture and good transit links. Property prices in Kadıköy in 2026 range from about 12 million to 30 million TRY ($279,000 to $698,000), reflecting demand for its livable, urban character and renovated older apartments.
Pendik offers more affordable entry points for families, with good transport connections and newer developments. Properties here typically range from 3.2 million to 6 million TRY ($74,000 to $140,000), making it accessible for first-time buyers who can accept a longer commute to the city center.
You will find a much more detailed analysis by areas in our property pack about Istanbul. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range (TRY / $) | Avg per sqm (TRY / $) | Avg per sqft (TRY / $) |
|---|---|---|---|---|
| Esenyurt | Entry / budget | 2.8M - 5M / $65k - $116k | 30k - 50k / $700 - $1,160 | 2,790 - 4,645 / $65 - $108 |
| Pendik | Entry / family | 3.2M - 6M / $74k - $140k | 35k - 55k / $810 - $1,280 | 3,255 - 5,110 / $76 - $119 |
| Beylikdüzü | Budget / newer pockets | 3.5M - 6.8M / $81k - $158k | 38k - 58k / $880 - $1,350 | 3,530 - 5,390 / $82 - $125 |
| Başakşehir | Family / newer | 5.5M - 10M / $128k - $233k | 50k - 80k / $1,160 - $1,860 | 4,645 - 7,435 / $108 - $173 |
| Küçükçekmece | Commute / mixed | 4.5M - 8.5M / $105k - $198k | 45k - 75k / $1,050 - $1,745 | 4,180 - 6,970 / $97 - $162 |
| Ümraniye | Commute / value | 5M - 9M / $116k - $209k | 50k - 80k / $1,160 - $1,860 | 4,645 - 7,435 / $108 - $173 |
| Maltepe | Family / coastal | 6M - 12M / $140k - $279k | 55k - 95k / $1,280 - $2,210 | 5,110 - 8,825 / $119 - $205 |
| Ataşehir | Business / modern | 7M - 14M / $163k - $326k | 60k - 110k / $1,395 - $2,560 | 5,575 - 10,220 / $130 - $238 |
| Şişli | Central / commute | 8M - 18M / $186k - $419k | 70k - 140k / $1,630 - $3,255 | 6,510 - 13,005 / $151 - $302 |
| Üsküdar | Family / scenic | 9M - 20M / $209k - $465k | 75k - 150k / $1,745 - $3,490 | 6,970 - 13,935 / $162 - $324 |
| Kadıköy | Popular / premium | 12M - 30M / $279k - $698k | 90k - 200k / $2,095 - $4,650 | 8,365 - 18,580 / $195 - $432 |
| Beşiktaş | Ultra-central / premium | 15M - 60M / $349k - $1.4M | 100k - 250k / $2,325 - $5,815 | 9,290 - 23,225 / $216 - $540 |
How much more do you pay for properties in Istanbul when you include renovation work, taxes, and fees?
When buying a property in Istanbul in 2026, you should expect to pay an additional 8% to 16% on top of the purchase price for taxes, fees, and potential renovation, with the lower end applying to new builds and the higher end to older existing homes.
For a property priced around $200,000 (about 8.6 million TRY) in Istanbul, you would typically add around 860,000 to 1.4 million TRY ($20,000 to $32,000) in extra costs. This brings your total all-in cost to approximately 9.5 million to 10 million TRY ($220,000 to $232,000).
For a property priced around $500,000 (about 21.5 million TRY), expect additional costs of roughly 2.2 million to 3.4 million TRY ($51,000 to $80,000). Your total would come to approximately 23.7 million to 24.9 million TRY ($551,000 to $580,000).
For a property at $1,000,000 (about 43 million TRY), additional costs would run approximately 4.3 million to 6.9 million TRY ($100,000 to $160,000). This means you would pay a total of around 47.3 million to 49.9 million TRY ($1.1 million to $1.16 million) all-in.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Istanbul.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Istanbul
| Expense | Type | Estimated Cost Range (TRY / $) |
|---|---|---|
| Title deed transfer fee (tapu) | Tax/Fee | This fee runs 2% to 4% of the property price. For a 10 million TRY home, that means 200,000 to 400,000 TRY ($4,700 to $9,300). The rate depends on how buyer and seller split the cost. |
| Real estate agency commission | Fee | Agents typically charge 2% to 4% plus VAT (18%). This is often negotiable and may be split between buyer and seller. On a 10 million TRY property, expect 200,000 to 470,000 TRY ($4,700 to $11,000). |
| Renovation costs (existing homes) | Renovation | Renovation in Istanbul runs 5,000 to 20,000 TRY per square meter depending on scope. A basic refresh of a 100 sqm apartment might cost 500,000 TRY ($11,600), while a full gut renovation could reach 2 million TRY ($46,500). |
| Earthquake insurance (DASK) | Insurance | DASK is mandatory and relatively inexpensive compared to the property value. Premiums are calculated based on square meters and building class, typically a few thousand TRY per year. This is not a major cost driver. |
| Moving and furnishing | Practical | Budget 50,000 to 400,000 TRY ($1,160 to $9,300) depending on how turnkey you want your home. This covers moving services, basic furniture, appliances, and initial setup costs. |
| Legal and notary fees | Fee | Legal assistance for document review and notary services typically cost 10,000 to 50,000 TRY ($230 to $1,160). Foreign buyers may want a lawyer for additional due diligence. |
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 properties can you buy in Istanbul in 2026 with different budgets?
With $100,000 (about 4.3 million TRY), you can buy an existing 1+1 apartment of around 65 square meters in Esenyurt in an older building, or a similar 1+1 of about 60 sqm in Pendik, or stretch to a small 2+1 of roughly 80 sqm in Beylikdüzü in an older block.
With $200,000 (about 8.6 million TRY), you could find an existing 2+1 apartment of around 105 sqm in a family-friendly complex in Ümraniye, or a 2+1 of about 100 sqm in Küçükçekmece close to transport, or a newer 2+1 of roughly 95 sqm with modern amenities in Başakşehir.
With $300,000 (about 12.9 million TRY), your options expand to a newer 2+1 apartment of around 120 sqm in a residence-style building in Ataşehir, or an existing 3+1 of about 150 sqm with coastal access in Maltepe, or an existing 2+1 of roughly 110 sqm in central Şişli in an older but well-located building.
With $500,000 (about 21.5 million TRY), you can access premium areas like a renovated existing 3+1 of around 160 sqm on prime streets in Kadıköy, or a newer 3+1 of about 170 sqm in Bosphorus-side zones of Üsküdar (not waterfront), or an existing 3+1 of roughly 150 sqm in Beşiktaş in a non-top micro-location.
With $1,000,000 (about 43 million TRY), you enter luxury territory with a newer 4+1 apartment of around 220 sqm in a premium complex in Beşiktaş's Ulus or Etiler area, or a large renovated 4+1 of about 240 sqm in a top Kadıköy location, or a townhouse or small villa of roughly 250 sqm in Sarıyer (not waterfront).
With $2,000,000 (about 86 million TRY), there is definitely a market in Istanbul, and you can find a villa of around 320 sqm in Sarıyer with premium security and amenities, or a water-adjacent luxury apartment of about 250 sqm in Beşiktaş with Bosphorus proximity, or a high-end villa of roughly 350 sqm in Beykoz or Sarıyer with prime views and land.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Istanbul.
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 house price index used in macroeconomic statistics. | We used this to track how prices are moving in Istanbul versus Turkey overall. We treated it as the reality check against listing-based data. |
| CBRT - RPPI November 2025 Release | This is the official dated release document behind the Central Bank's housing index. | We used it for the latest Istanbul annual change data available heading into January 2026. We cross-checked this with private indexes. |
| CBRT - Consumer Prices (CPI) | This republishes official CPI inflation data from TURKSTAT in a clean format. | We used this to inflation-correct our year-over-year and decade comparisons. We also used it to determine whether housing is rising in real terms. |
| Endeksa - Istanbul Housing Analytics | Endeksa is Turkey's leading real estate analytics platform with transparent price data by city and district. | We used this to estimate current price levels in TRY per sqm and average total prices. We also used their min-max bands to build realistic market ranges. |
| Endeksa - Beşiktaş District | Same transparent methodology as the Istanbul page but broken down by this premium district. | We used this to calibrate what premium Istanbul looks like in price per sqm. We used Beşiktaş as our high-end anchor for luxury ranges. |
| REIDIN - Residential Price Indices | REIDIN is a specialized property index producer widely used by professionals and researchers. | We used this as an independent cross-check on Turkey-wide price growth. We mainly validated that CBRT's real versus nominal picture was consistent. |
| IMF - Representative Exchange Rates | The IMF publishes central-bank-reported foreign exchange reference rates. | We used this to anchor EUR/USD around late 2025 for our currency conversions. We combined this with a conservative USD/TRY assumption for January 2026. |
| FRED - Turkey Real Residential Prices | The St. Louis Fed provides long-term real residential price indexes for cross-country comparison. | We used this to validate our long-term real price trends. We confirmed that Turkey's decade-long real housing prices are roughly flat. |
| DASK - Earthquake Insurance | DASK is Turkey's official compulsory earthquake insurance institution. | We referenced their premium structure to estimate insurance costs. We noted that DASK premiums are formula-based and relatively low versus property values. |
| TURKSTAT | Turkey's official statistics institute provides foundational economic and demographic data. | We used TURKSTAT data indirectly through CBRT's CPI tables. We relied on their inflation figures for all real-term calculations. |
| Numbeo - Istanbul Property | Numbeo aggregates user-reported cost of living and property data globally. | We used this as a supplementary reference for international comparison. We cross-checked our ranges against their reported price per sqm figures. |
| Sahibinden | Sahibinden is Turkey's largest classified ads platform for property listings. | We referenced listing patterns to understand market composition. We validated typical property sizes and types against their active listings. |
| Hepsiemlak | One of Turkey's major online real estate portals with extensive Istanbul listings. | We used this to verify neighborhood-level price differences. We cross-referenced asking prices with Endeksa's analytics. |
| Emlakjet | A leading Turkish real estate platform providing listings and market insights. | We reviewed their market reports for additional context. We validated our property type breakdown against their listing categories. |
| GYODER | The Turkish Real Estate Investment Companies Association provides industry analysis. | We consulted their reports for market trend context. We used their data to validate new construction premium estimates. |
| World Bank | Provides global economic indicators and Turkey-specific development data. | We referenced World Bank data for macroeconomic context. We used their inflation and growth figures to contextualize housing trends. |
| OECD | Publishes comparative housing price indexes across member countries including Turkey. | We used OECD data to validate long-term real price trends. We cross-checked their Turkey housing index against CBRT figures. |
| Bank for International Settlements | Provides international real residential property price data used by FRED. | We used BIS data through FRED for real price trends. We validated that Turkey's decade-long real housing prices show minimal real appreciation. |
| Invest in Turkey | Official Turkish government investment promotion agency. | We referenced their materials for foreign buyer information. We used their guidance on property purchase procedures and costs. |
| MUFG Research | Major global bank providing Turkey macroeconomic analysis. | We consulted their Turkey outlook for inflation and currency projections. We used their forecasts to contextualize our exchange rate assumptions. |
| JLL Turkey | Global real estate services firm with local Turkey market expertise. | We referenced their market reports for commercial and residential insights. We used their analysis to validate premium district pricing. |
| Colliers Turkey | International real estate advisory firm with Istanbul market coverage. | We consulted their reports for institutional investor perspective. We validated our luxury segment estimates against their high-end market data. |
| Knight Frank | Global real estate consultancy tracking prime property markets worldwide. | We referenced their global prime residential index for context. We used their Turkey insights to validate ultra-premium pricing in Beşiktaş and Sarıyer. |
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