Authored by the expert who managed and guided the team behind the Turkey Property Pack
Everything you need to know before buying real estate is included in our Turkey Property Pack
Turkey's property market in January 2026 is at an interesting crossroads, with high nominal prices but inflation-adjusted values that have barely moved over the past year.
The country's central bank has started cutting interest rates from their peak of 46%, bringing hope that mortgage affordability could improve through 2026.
In this article, we cover the current housing prices in Turkey and we constantly update this blog post as new data becomes available.
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 Turkey.
So, is now a good time?
Rather yes, but only if you buy selectively, focus on quality buildings in liquid districts, and avoid relying heavily on expensive mortgages that can eat into your returns.
The strongest signal is that real (inflation-adjusted) prices have been flat or even declining, meaning you are not buying at a bubble peak but rather at a moment when values have already corrected in purchasing-power terms.
Another strong signal is that Turkey's central bank has begun cutting rates from 46% down to 38%, which historically triggers renewed housing demand and could support prices going forward.
Other strong signals include a structural housing shortage (construction has only met about half of annual demand), ongoing urban transformation creating premium for earthquake-safe buildings, and strong rental demand in major cities keeping yields around 4% to 7%.
The best investment strategies in Turkey in 2026 include targeting standard 2 to 3 bedroom apartments in liquid districts like Kadikoy, Besiktas, or Cankaya, prioritizing post-2018 buildings with earthquake compliance, and considering cash purchases or minimal leverage given that mortgage rates remain high.
This is not financial or investment advice, we do not know your personal situation, and you should always do your own research before making any property purchase decision.
Fact-checked and reviewed by our local expert
Laurence Rapp 🇬🇧
Sales representative at Spot Blue - International Real Estate Agency
Is it smart to buy now in Turkey, or should I wait as of 2026?
Do real estate prices look too high in Turkey as of 2026?
As of early 2026, Turkey's property prices are not bubble-high in real terms because while nominal prices rose about 31% over the past year, inflation ran at a similar pace, meaning real price growth was close to zero.
One clear on-the-ground signal is that the gap between listing prices and final sale prices in Turkey typically runs between 8% and 12%, which suggests sellers are setting prices high but buyers have room to negotiate, a sign of some price stretch.
Another signal worth watching is that mortgage-backed sales, while growing, still only represent about 14% of all transactions, which tells us that most buyers are using cash and that financed buyers are finding prices difficult to afford at current interest rates.
You can also read our latest update regarding the housing prices in Turkey.
Does a property price drop look likely in Turkey as of 2026?
As of early 2026, the likelihood of a sharp nominal price crash in Turkey is low because high inflation tends to keep sticker prices rising even when demand softens.
However, a realistic downside scenario is a further 5% to 15% decline in real (inflation-adjusted) terms over the next 12 to 18 months, where prices rise but fail to keep up with inflation, rather than a dramatic nominal collapse.
The single most important factor that could increase the odds of a price drop in Turkey is if inflation stays stubbornly high while interest rates remain elevated, which would squeeze affordability further and reduce buyer demand.
Given that inflation has been slowly declining (from over 70% in 2022 to around 31% by late 2025) and rate cuts have begun, this scenario looks less likely than a gradual stabilization, though it remains a risk if disinflation stalls.
Finally, please note that we cover the price trends for next year in our pack about the property market in Turkey.
Could property prices jump again in Turkey as of 2026?
As of early 2026, the likelihood of a renewed price surge in Turkey is medium to high if interest rate cuts continue faster than expected, because Turkey's housing market is extremely sensitive to financing costs.
If disinflation continues and rates fall toward 25% by the end of 2026 as some analysts expect, nominal prices could rise another 15% to 25% over the next 12 months, though real gains would depend on whether price growth outpaces inflation.
The single biggest demand-side trigger that could drive prices to jump is a meaningful drop in mortgage rates below 2% per month, which would unlock pent-up demand from the large pool of Turkish buyers who have been waiting on the sidelines.
Please also note that we regularly publish and update real estate price forecasts for Turkey here.
Are we in a buyer or a seller market in Turkey as of 2026?
As of early 2026, Turkey's housing market is closer to a buyer's market for those who need financing, though cash buyers and sellers of premium properties still hold negotiating power in desirable locations.
Turkey does not publish a clean months-of-supply metric like some Western markets, but with mortgage rates still high and only about 14% of transactions using financing, qualified financed buyers are scarce, which typically gives cash-ready buyers more leverage to negotiate.
The share of listings with price reductions or room for negotiation appears significant, with typical final sale prices coming in 8% to 12% below asking prices, suggesting that sellers are often willing to come down if approached with serious offers.
We have made this infographic to give you a quick and clear snapshot of the property market in Turkey. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Are homes overpriced, or fairly priced in Turkey as of 2026?
Are homes overpriced versus rents or versus incomes in Turkey as of 2026?
As of early 2026, homes in Turkey are stretched versus incomes for most local buyers, but not as dramatically overpriced versus rents because rents have also surged alongside property prices.
The price-to-rent ratio in Turkey has been elevated but not extreme by international standards, partly because rents rose over 35% year-on-year in cities like Istanbul and Ankara, which keeps rental yields in the 4% to 7% range for standard apartments.
The price-to-income multiple in Turkey is challenging for average earners, with median home prices in cities like Istanbul reaching around 5.8 million TRY (roughly $136,000), which is many times the average annual household income in the country.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Turkey.
Are home prices above the long-term average in Turkey as of 2026?
As of early 2026, nominal home prices in Turkey are well above their long-term average, but in real (inflation-adjusted) terms, prices are not clearly above prior peaks and have actually declined from earlier highs when measured in purchasing power.
Over the past 12 months, Turkey's nominal house prices rose about 31%, but when adjusted for inflation of around 31%, real price growth was essentially flat, which is a much slower pace than the explosive nominal gains seen in 2021 to 2022.
In inflation-adjusted terms, the BIS real price index shows that Turkey's housing values have been declining or stagnant since 2022, meaning current prices are actually below the real peak reached a few years ago, which offers some valuation comfort for buyers.
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What local changes could move prices in Turkey as of 2026?
Are big infrastructure projects coming to Turkey as of 2026?
As of early 2026, the biggest infrastructure projects likely to move property prices in Turkey are Istanbul's metro expansions, with multiple lines under construction including the M5 extension to Sultanbeyli, the M12 line connecting Umraniye and Atasehir, and the M11 extension to Halkali, all expected to open in 2026.
The M12 metro line connecting 60. Yil Parki to Kazim Karabekir is about 13 kilometers long with 11 stations and is planned to open in 2026, which will significantly improve connectivity for the densely populated Atasehir and Umraniye districts on Istanbul's Asian side.
For the latest updates on the local projects, you can read our property market analysis about Turkey here.
Are zoning or building rules changing in Turkey as of 2026?
The single most important rule change affecting Turkey's property market in 2026 is the ongoing urban transformation and seismic upgrading program, which is pushing older buildings to be demolished and rebuilt to modern earthquake safety standards.
As of early 2026, the net effect of these urban transformation rules is creating a two-tier market where newer post-2018 construction with proper earthquake compliance commands premiums of 10% to 25% over older buildings, while some older stock faces discounting or redevelopment pressure.
The areas most affected by these rule changes in Turkey are central districts in Istanbul, Izmir, and Ankara with aging building stock, as well as the earthquake-affected zones in southeastern Turkey like Hatay where reconstruction is creating entirely new housing supply.
Are foreign-buyer or mortgage rules changing in Turkey as of 2026?
As of early 2026, foreign-buyer rules in Turkey remain stable with the Citizenship by Investment program requiring a minimum $400,000 property purchase, and mortgage affordability is gradually improving as the central bank continues its rate-cutting cycle from 46% down to 38%.
The most likely foreign-buyer rule change being discussed is potential adjustments to the citizenship threshold or additional verification requirements, though no imminent changes have been announced, and the $400,000 threshold continues to support demand in the upper market segment.
The most likely mortgage rule change is a continued decline in policy rates through 2026, with analysts expecting rates to fall toward 25% to 28% by year-end, which would translate into lower mortgage rates and improved affordability for Turkish buyers.
You can also read our latest update about mortgage and interest rates in Turkey.
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.
Will it be easy to find tenants in Turkey as of 2026?
Is the renter pool growing faster than new supply in Turkey as of 2026?
As of early 2026, renter demand in Turkey's major urban centers is outpacing new rental supply, driven by high home prices that keep people renting longer and continued rural-to-urban migration that adds pressure to city housing markets.
The estimated net household formation and migration signal shows that Turkey's large cities, especially Istanbul, Ankara, and Izmir, continue to receive hundreds of thousands of new residents each year seeking jobs and education, which keeps rental demand structurally strong.
New construction has been active in Turkey, but housing production has only met about half of annual demand in recent years, and much of the new supply targets the higher end of the market rather than the affordable rental segment most renters need.
Are days-on-market for rentals falling in Turkey as of 2026?
As of early 2026, days-on-market for well-located, properly-priced rentals in Turkey's major cities typically range from 1 to 4 weeks, and this timeline has remained short or even decreased in desirable neighborhoods due to strong demand.
The difference in days-on-market between best areas and weaker areas in Turkey is significant, with prime neighborhoods in Istanbul like Kadikoy, Besiktas, and Sisli often seeing rentals taken within 2 weeks, while outer districts or mismatched properties can sit for 8 to 12 weeks or longer.
One common reason days-on-market stays low in Turkey's best areas is that high mortgage rates keep many potential buyers renting instead, which concentrates demand in the rental market, especially for quality units with good commute access and safe building standards.
Are vacancies dropping in the best areas of Turkey as of 2026?
As of early 2026, vacancy rates in Turkey's best-performing rental areas like Kadikoy, Besiktas, and Sisli in Istanbul, Cankaya in Ankara, Karsiyaka in Izmir, and Konyaalti in Antalya appear to be dropping or remaining very low, estimated at around 4% to 6% nationally but even tighter in prime locations.
In these best areas, vacancy rates are estimated to be 2% to 4%, well below the national average, because demand concentrates in neighborhoods with good transport links, safe buildings, and proximity to employment centers.
One practical sign for landlords that the best areas are tightening in Turkey is that rental prices in districts like Kadikoy and Besiktas continue to rise 35% or more year-on-year even as other costs stabilize, indicating that tenants are willing to pay premiums to secure quality units in liquid locations.
By the way, we've written a blog article detailing what are the current rent levels in Turkey.
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Am I buying into a tightening market in Turkey as of 2026?
Is for-sale inventory shrinking in Turkey as of 2026?
As of early 2026, we cannot say definitively whether for-sale inventory in Turkey is shrinking because the country does not publish a clean nationwide active-listings series like some Western MLS systems, making this metric difficult to track precisely.
What we can observe is that with high interest rates, many potential sellers are choosing to wait rather than sell at prices they consider too low, which can reduce effective inventory in prime areas even if overall construction activity remains healthy.
The most likely reason for any inventory tightness in Turkey is that owners who bought at lower prices or have low mortgage payments prefer to hold their properties as inflation hedges rather than sell into an uncertain market with limited qualified buyers.
Are homes selling faster in Turkey as of 2026?
As of early 2026, the Turkish market is barbell-shaped, with high-quality properties in desirable locations selling quickly (often within 4 to 6 weeks) while average or overpriced properties can take 3 to 6 months or longer to find buyers.
Year-over-year, the market has shown mixed signals, with total transaction volumes up about 16% through October 2025 compared to the prior year, but monthly sales momentum slowed in the final months of 2025 as buyers adopted a wait-and-see approach ahead of expected rate cuts.
Are new listings slowing down in Turkey as of 2026?
As of early 2026, we estimate that new for-sale listings in Turkey are roughly stable or slightly lower in real terms compared to last year, though this is difficult to measure precisely without centralized listing data.
Seasonally, Turkey typically sees stronger listing activity in spring and early summer, with January being a slower period, so current listing levels may appear low but are not necessarily unusual for the time of year.
The most plausible reason new listings might be slowing in Turkey is seller caution in a high-inflation, high-rate environment where owners prefer to hold real assets rather than convert them to rapidly depreciating cash.
Is new construction failing to keep up in Turkey as of 2026?
As of early 2026, new construction in Turkey has been failing to keep up with demand, with estimates suggesting that housing production has met only about 50% of annual household formation needs in recent years, creating a structural shortage.
Building permits showed signs of recovery in 2025, indicating that developers are responding to demand, but there is a lag between permits and completed units, meaning supply relief may not arrive until late 2026 or 2027.
The biggest bottleneck limiting new construction in Turkey is a combination of high financing costs for developers, expensive imported construction materials due to lira weakness, and the diversion of resources to earthquake reconstruction in southeastern regions.
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.
Will it be easy to sell later in Turkey as of 2026?
Is resale liquidity strong enough in Turkey as of 2026?
As of early 2026, resale liquidity in Turkey is strong for mainstream apartments in liquid districts like Kadikoy, Besiktas, Sisli, and Atasehir in Istanbul, Cankaya in Ankara, Karsiyaka in Izmir, and Konyaalti in Antalya, but weaker for niche or overpriced properties.
The estimated median days-on-market for well-priced resale homes in prime Turkish locations is around 4 to 8 weeks, which is reasonably healthy liquidity, though properties that are overpriced or in less desirable areas can take 4 to 6 months or more.
One property characteristic that most improves resale liquidity in Turkey is being a standard 1 to 3 bedroom apartment in a post-2018 building with earthquake compliance, good transport access, and reasonable pricing relative to comparable sales.
Is selling time getting longer in Turkey as of 2026?
As of early 2026, selling time in Turkey appears to be getting slightly longer for average properties compared to the fast-moving market of early 2025, as buyers have become more cautious while waiting for further rate cuts.
The estimated current median days-on-market in Turkey ranges from about 4 weeks for prime properties to 12 weeks or more for average stock, with a realistic low-to-high range of 3 weeks to 6 months depending on location, price, and property quality.
One clear reason selling time can lengthen in Turkey is affordability pressure, where high mortgage rates reduce the pool of qualified financed buyers, leaving sellers dependent on cash buyers who have more negotiating leverage and take longer to commit.
Is it realistic to exit with profit in Turkey as of 2026?
As of early 2026, the likelihood of exiting with a real (inflation-adjusted) profit in Turkey is medium, requiring careful entry pricing and a holding period of at least 3 to 5 years to absorb transaction costs and benefit from potential market recovery.
The estimated minimum holding period in Turkey to realistically exit with profit is 3 to 5 years, which allows time for transaction costs to be absorbed, potential rate cuts to boost demand, and the market to transition from real-term stagnation to growth.
The estimated total round-trip cost drag in Turkey, including buying costs (about 4% to 6% for taxes, fees, and agent commissions) and selling costs (about 2% to 4%), comes to roughly 6% to 10% of the property value, or around 350,000 to 600,000 TRY ($8,000 to $14,000 or 7,000 to 12,000 euros) on a median Istanbul apartment.
One clear factor that most increases profit odds in Turkey is buying below market value, whether through negotiation, distressed sales, or targeting properties with clear demand catalysts like upcoming metro stations or urban transformation upside.
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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 Turkey, 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 Name | Why It's Authoritative | How We Used It |
|---|---|---|
| Central Bank of Turkey (CBRT) RPPI | Official house price index with published methodology from Turkey's central bank. | We used it as the main scoreboard for nationwide price direction and momentum. We compared nominal changes to inflation to judge whether prices are rising in real terms. |
| CBRT Monetary Policy Committee | Primary source for policy rates that shape mortgage affordability in Turkey. | We used it to anchor the interest-rate regime buyers face in early 2026. We translated the policy stance into practical financing conditions for buyers. |
| Turkish Statistical Institute (TURKSTAT) | National statistics agency providing official transaction, inflation, and construction data. | We used it for housing sales activity and inflation context. We also framed supply signals via construction permit indicators. |
| BIS Real House Prices via FRED | BIS methodology distributed by a top-tier central bank data hub. | We used it to answer the key overpriced vs inflation question. We checked whether prices are rising after adjusting for inflation. |
| OECD Housing Indicators | Internationally comparable housing and affordability metrics from a major economic organization. | We used it for price-to-income and price-to-rent affordability signals. We triangulated it with local sources to avoid cherry-picking. |
| Trading Economics Turkey Housing Index | Transparent republisher that cites CBRT and shows recent readings clearly. | We used it to quickly reference the latest visible index reading and direction. We treated CBRT as the primary authority. |
| General Directorate of Land Registry (TKGM) | State body for title deeds and registrations in Turkey. | We used it to ground discussions about transaction processes and foreign acquisition procedures. We treated it as official infrastructure reference. |
| Ministry of Environment, Urbanisation and Climate Change | Key ministry for zoning and urban transformation policy direction. | We used it to explain Turkey-specific policy drivers like urban transformation and earthquake rebuilding. We paired it with construction stats to assess supply. |
| Metro Istanbul Project Pipeline | Official operator project list for Istanbul's metro expansion. | We used it to identify credible transport upgrades that can change neighborhood desirability. We only treated listed or under-construction items as real. |
| Asian Infrastructure Investment Bank (AIIB) | Major multilateral lender publishing project finance details. | We used it to validate that certain tourism-linked infrastructure is financed, not just planned. We linked it to rental demand in Antalya submarkets. |
| Global Property Guide | Independent property analysis platform with detailed country coverage. | We used it for market forecasts and historical context. We cross-referenced their estimates with official sources for validation. |
| Daily Sabah Business | Major Turkish news outlet covering economic and real estate developments. | We used it for recent market news and transaction updates. We validated key figures against TURKSTAT official releases. |
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.