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 2026 stands at a crossroads where high inflation meets economic reform, creating unique opportunities for local and international buyers.
We constantly update this blog post with the latest data on housing prices in Turkey, tracking everything from national averages to neighborhood-level trends.
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.
Insights
- Turkey property prices rose about 31% nominally over the past year, but inflation-adjusted growth was just 0.3%, meaning most gains simply kept pace with the lira's declining purchasing power.
- The average home in Turkey now costs approximately 5 million Turkish lira (roughly $125,000 or €115,000), making it one of the most affordable Mediterranean markets for foreign buyers.
- Ankara has quietly outpaced both Istanbul and Izmir in annual price growth, with districts like Kecioren and Yenimahalle leading due to strong local demand and relative affordability.
- Turkey's central bank cut rates to 38% in December 2025, with expectations of 25% by end of 2026, which historically triggers strong real estate demand when financing becomes accessible.
- Eastern regions including Bingol, Elazig, and Malatya recorded the highest regional growth at over 40% year-on-year, driven by reconstruction efforts and relative undervaluation.
- New-build apartments in earthquake-resilient developments command significant premiums, as post-2023 seismic awareness has permanently shifted buyer preferences toward safer construction.
- Turkey's population of nearly 88 million includes about 77% living in urban areas, creating sustained housing demand in major metros where internal migration fuels household formation.
- Foreign buyers benefit from an effective 15-20% currency discount compared to a few years ago, as lira depreciation has made Turkish property remarkably affordable in hard currency.
- The World Bank projects Turkey's inflation to drop to around 18% by end of 2026, which should gradually restore real capital gains potential for property investors.
- Istanbul metro expansions scheduled for 2026 completion in Sultanbeyli and Atasehir are expected to lift property values 10-15% in surrounding neighborhoods.
What are the current property price trends in Turkey as of 2026?
What is the average house price in Turkey as of 2026?
As of early 2026, the average house price in Turkey is approximately 4.95 million Turkish lira, translating to around $124,000 or €114,000 at current exchange rates.
Turkish properties average about 39,100 lira per square meter (roughly $980 or €900/m²), though this varies dramatically between prime Istanbul districts and more affordable inland cities.
The realistic price range covering about 80% of property purchases in Turkey falls between 2.5 million and 12 million lira ($62,000 to $300,000), spanning modest apartments in developing districts to quality homes in established urban neighborhoods.
How much have property prices increased in Turkey over the past 12 months?
Property prices in Turkey increased by approximately 30-31% nominally over the past 12 months, though inflation-adjusted (real) prices grew by only about 0.3%, meaning most gains simply kept pace with the lira's declining purchasing power.
Across different property types and regions in Turkey, price increases ranged from roughly 25% to over 40% nominally, with newer earthquake-resilient buildings in high-demand districts outperforming older stock.
The single most significant factor driving this price movement has been Turkey's persistent high inflation, which pushed construction costs, land values, and replacement costs upward even as the central bank worked to restore stability.
Which neighborhoods have the fastest rising property prices in Turkey as of 2026?
As of early 2026, the top neighborhoods with fastest rising property prices in Turkey are Kecioren and Yenimahalle in Ankara, and Pendik in Istanbul, all benefiting from strong local demand combined with relative affordability.
These fast-growing Turkish neighborhoods have recorded annual price growth of 35-45%, with Ankara districts slightly outpacing Istanbul's commuter belt due to the capital's strong demand base and lower starting prices.
The main demand driver is the "more meters for your money" dynamic, where middle-class Turkish families priced out of premium districts seek newer, earthquake-safe buildings in areas with improving transport links.
By the way, you will find much more detailed price ranges across neighborhoods in our property pack covering the real estate market in Turkey.
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.
Which property types are increasing faster in value in Turkey as of 2026?
As of early 2026, the ranking of property types by appreciation in Turkey places newer apartments in managed "site" developments at the top, followed by detached houses and villas in land-constrained areas, then duplexes and larger family layouts, with older unrenovated apartments appreciating most slowly.
The top-performing property type, new-build apartments in earthquake-resilient developments, has appreciated approximately 35-40% nominally over the past year, outpacing the national average due to strong safety-conscious demand.
This property type outperforms because post-2023 earthquake awareness permanently shifted buyer preferences toward buildings constructed to modern seismic codes, creating a lasting "quality premium" that older stock cannot capture.
Finally, if you're interested in a specific property type, you will find our latest analyses here:
- How much do properties cost in Turkey?
- How much should you pay for a house in Turkey?
- How much should you pay for lands in Turkey?
What is driving property prices up or down in Turkey as of 2026?
As of early 2026, the top three factors driving property prices in Turkey are persistent inflation pushing construction costs and nominal values higher, interest rate movements affecting mortgage affordability, and the ongoing "quality premium" repricing between earthquake-safe new buildings versus older risky stock.
The single factor with strongest upward pressure on Turkish property prices remains construction cost inflation, which forces developers to price new units higher and makes existing properties worth more as replacement costs climb.
If you want to understand these factors at a deeper level, you can read our latest property market analysis about Turkey here.
Get fresh and reliable information about the market in Turkey
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What is the property price forecast for Turkey in 2026?
How much are property prices expected to increase in Turkey in 2026?
As of early 2026, property prices in Turkey are expected to increase by approximately 22% nominally over the full year, translating to somewhere between -3% and +4% in real terms depending on how quickly disinflation progresses.
Analyst forecasts for Turkish property price growth range from about 18% on the conservative end to 30% on the optimistic end, with variation largely reflecting different assumptions about inflation decline and interest rate cuts.
The main assumption underlying most Turkey price forecasts is that the central bank's disinflation strategy will continue working, bringing inflation down toward 18-21% by year-end and allowing gradual rate cuts that support housing demand.
We go deeper and try to understand how solid are these forecasts in our pack covering the property market in Turkey.
Which neighborhoods will see the highest price growth in Turkey in 2026?
As of early 2026, the top neighborhoods expected to see highest price growth in Turkey include Pendik, Cekmeköy, and Sancaktepe in Istanbul's Asian commuter belt, plus Etimesgut and Kecioren in Ankara, all positioned to benefit when easier credit releases pent-up demand.
Projected price growth for these top Turkish neighborhoods ranges from 25% to 35% nominally for 2026, outpacing the national average due to affordability, new housing stock, and improving connectivity.
The primary catalyst is anticipated interest rate easing through 2026, which historically unleashes demand from middle-class Turkish families waiting on the sidelines for affordable financing.
One emerging neighborhood that could surprise with higher-than-expected growth is Menemen on Izmir's outskirts, where new residential projects combined with transport improvements attract buyers priced out of established districts.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Turkey.
What property types will appreciate the most in Turkey in 2026?
As of early 2026, the property type expected to appreciate most in Turkey is new-build apartments in well-managed "site" developments, as buyers continue paying premiums for earthquake-resistant construction and modern amenities.
Projected appreciation for this top-performing property type is approximately 25-30% nominally for 2026, driven by sustained demand from safety-conscious local buyers and foreign investors seeking quality stock.
The main demand trend is the permanent shift in buyer psychology following the 2023 earthquakes, creating lasting awareness about building quality that keeps demand concentrated on modern, code-compliant construction.
The property type expected to underperform during 2026 is older apartments in districts with high seismic risk and weak urban renewal pipelines, facing larger discounts and longer selling times.
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.
How will interest rates affect property prices in Turkey in 2026?
As of early 2026, falling interest rates are expected to have a strongly positive impact on Turkish property prices, as historical patterns show rate cuts typically trigger real estate booms by making mortgages affordable for middle-class buyers waiting in cash-only mode.
Turkey's current benchmark policy rate stands at 38% following December 2025's cut, with expectations of gradual reductions to around 25% by end of 2026 as inflation falls, making mortgage financing significantly more accessible.
In Turkey's context, a 1% change in interest rates affects property affordability quite directly because mortgage payments are highly sensitive to rate movements at current elevated levels, and when rates drop meaningfully, transaction volumes surge before prices follow.
You can also read our latest update about mortgage and interest rates in Turkey.
What are the biggest risks for property prices in Turkey in 2026?
As of early 2026, the top three biggest risks for property prices in Turkey are inflation re-acceleration that would hurt real returns and affordability, currency volatility swinging foreign demand and construction costs unpredictably, and potential credit tightening if disinflation stalls.
The single risk with highest probability of materializing is currency volatility, given the lira's historical sensitivity to global risk sentiment and domestic policy credibility, which could create rapid shifts in foreign buyer interest and material costs.
We actually cover all these risks and their likelihoods in our pack about the real estate market in Turkey.
Is it a good time to buy a rental property in Turkey in 2026?
As of early 2026, buying a rental property in Turkey looks reasonably attractive for disciplined investors focusing on newer buildings in strong-demand districts, given that real price growth has been muted (meaning the market isn't overheated) while rental demand remains robust.
The strongest argument for buying now is the combination of favorable currency dynamics for foreign buyers, anticipated rate cuts supporting capital values, and sustained rental demand from Turkey's large urbanizing population and tourism sector.
The strongest argument for waiting is uncertainty around how quickly disinflation will restore real returns, since buying too early in a high-inflation environment means capital gains might simply offset currency depreciation rather than generating true wealth.
If you want to know our latest analysis (results may differ from what you just read), you can read our assessment on whether now is a good time to buy a property in Turkey.
You'll also find a dedicated document about this specific question in our pack about real estate in Turkey.
Buying real estate in Turkey can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
Where will property prices be in 5 years in Turkey?
What is the 5-year property price forecast for Turkey as of 2026?
As of early 2026, cumulative property price growth in Turkey over the next 5 years is expected to reach approximately 75% nominally, meaning today's average home priced at around 5 million lira would be worth roughly 8.75 million lira by end of 2030.
The range of 5-year forecasts spans from about 50% on the conservative end (assuming inflation stays stickier) to about 100% on the optimistic end (assuming faster disinflation restores real growth momentum).
The projected average annual appreciation rate over 5 years is approximately 12-15% nominal growth per year, lower than recent years but more sustainable and potentially delivering better real returns as inflation falls.
The key assumption forecasters rely on is that Turkey successfully transitions from high inflation to a lower, more stable regime, reducing nominal price growth rates but improving real returns and affordability.
Which areas in Turkey will have the best price growth over the next 5 years?
The top three areas expected to have the best price growth over 5 years are Istanbul's developing Asian side districts like Pendik and Kartal, Ankara's expanding suburbs including Etimesgut and Yenimahalle, and select Izmir growth corridors such as Bornova and Bayrakli.
Projected 5-year cumulative price growth for these top-performing areas ranges from 90% to 120% nominally, outpacing the national average due to infrastructure improvements, new housing supply, and migration-driven demand.
This longer-term forecast differs from the 1-year view by emphasizing infrastructure completion effects, since projects currently under construction will boost values more dramatically over 5 years than in the immediate term.
The currently undervalued area with best 5-year potential is the Antalya hinterland, particularly Kepez and Konyaalti's expanding edges, where tourism-driven demand meets affordable land and new development.
What property type will give the best return in Turkey over 5 years as of 2026?
As of early 2026, the property type expected to give the best total return over 5 years is mid-market, newer apartments in strong-demand districts, combining capital appreciation with steady rental income and sufficient liquidity to exit when needed.
Projected 5-year total return for this property type, combining appreciation and rental income, is approximately 100-120% cumulative, with roughly 75-80% from capital growth and 20-40% from net rental yields.
The main structural trend favoring newer apartments is the sustained "quality premium" driven by earthquake awareness, keeping demand concentrated on modern buildings while older stock faces larger discounts.
The property type offering the best balance of return and lower risk is family-sized apartments in established urban neighborhoods with good schools and transport, attracting stable tenants and maintaining liquidity in any market.
How will new infrastructure projects affect property prices in Turkey over 5 years?
The top three major infrastructure projects expected to impact Turkish property prices over 5 years are Istanbul's ongoing metro expansions (including lines to Sultanbeyli and Atasehir for 2026), the Ankara airport metro line starting construction in 2026, and continued high-speed rail network expansion.
The typical price premium for properties near completed infrastructure projects in Turkey ranges from 10% to 25% compared to similar properties farther from transit, with strongest effects in previously underserved districts gaining connectivity.
Specific neighborhoods benefiting most include Sultanbeyli and Sancaktepe in Istanbul (metro extensions), Kecioren in Ankara (airport metro), and Menemen in Izmir (transport improvements), all expected to see above-average appreciation.
How will population growth and other factors impact property values in Turkey in 5 years?
Turkey's projected population growth of approximately 0.3-0.5% annually over 5 years, combined with about 77% urbanization, is expected to sustain housing demand in major metros as internal migration drives household formation in Istanbul, Ankara, and Izmir.
The demographic shift with strongest influence on Turkish property demand is younger households' preference for newer, safer housing, increasingly prioritizing earthquake-resilient buildings over traditional options even at higher prices.
Migration patterns, both domestic movement toward job-rich urban centers and international interest from Middle Eastern and European buyers, will keep demand concentrated in established metros and lifestyle coastal destinations.
Property types and areas benefiting most from these trends are newer apartments in developing urban districts with good transport links, and quality coastal properties where foreign demand and lifestyle migration intersect.
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 is the 10 year property price outlook in Turkey?
What is the 10-year property price prediction for Turkey as of 2026?
As of early 2026, cumulative property price growth in Turkey over 10 years is expected to reach approximately 190% nominally, meaning today's average home would roughly triple in lira value by 2035, though real gains depend heavily on inflation outcomes.
The range of 10-year forecasts spans from about 120% on the conservative end (assuming slower inflation normalization) to about 250% on the optimistic end (assuming Turkey achieves single-digit inflation and sustained real growth).
Projected average annual appreciation over 10 years is approximately 11-12% nominal growth per year, declining from early years as inflation normalizes, which should gradually improve real return potential.
The biggest uncertainty factor in 10-year predictions is whether Turkey's current disinflation and stabilization program will prove durable, as any return to high inflation or policy instability would dramatically alter the trajectory.
What long-term economic factors will shape property prices in Turkey?
The top three long-term economic factors shaping property prices in Turkey over the next decade are inflation credibility and monetary policy durability, FX regime stability affecting foreign demand and construction costs, and productivity growth determining sustainable affordability.
The single factor with most positive potential impact on Turkish property values is successful inflation normalization to single digits, which would restore real capital gains, improve affordability through lower mortgage rates, and attract increased foreign investment.
The single factor posing greatest structural risk is a return to monetary policy instability, which could reignite inflation, destabilize the currency, and shift the market back to where nominal gains merely offset purchasing power erosion.
You'll also find a much more detailed analysis in our pack about real estate in Turkey.
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 | Why It's Authoritative | How We Used It |
|---|---|---|
| Central Bank of Turkey (CBRT) RPPI | Turkey's official quality-adjusted house price index from the central bank. | We used it as our backbone for national and city-level price trends and regional breakdowns. |
| CBRT RPPI Monthly Release (Nov 2025) | Official monthly statistical release with clear methodology. | We pulled the latest year-on-year changes and real (CPI-adjusted) figures to separate inflation from market moves. |
| Turkish Statistical Institute (TURKSTAT) | Turkey's official national statistics agency. | We used it for macro context including inflation and population data as our official reality check. |
| Endeksa Housing Analytics | Large established Turkish housing platform with transparent methodology. | We converted index trends into practical numbers and used city-level metrics to identify neighborhoods. |
| CBRT Consumer Price Index Data | Official CPI series compiled through the central bank portal. | We used CPI to interpret real versus nominal price movements and frame affordability changes. |
| World Bank Turkey Macro Outlook | World Bank outlook with consistent cross-country methodology. | We grounded our growth and inflation assumptions and translated macro paths into housing implications. |
| OECD Economic Outlook Turkey | Major international organization with standardized forecasting. | We triangulated the macro baseline and tested soft landing versus re-acceleration scenarios. |
| IMF World Economic Outlook (Oct 2025) | IMF's flagship forecast used globally as a reference. | We triangulated Turkey's inflation and growth direction and mapped to housing demand. |
| CBRT Monetary Policy for 2026 | Official CBRT document explaining the inflation-targeting framework. | We framed the interest rate and disinflation narrative and built housing scenarios. |
| Reuters Policy Rate Coverage | Globally recognized newsroom with attributed official sources. | We used it as a pointer to the latest policy rate decision, anchoring to official CBRT documents. |
| REIDIN Property Price Indices | Long-running widely cited Turkish real estate index provider. | We used it as a private-sector cross-check on trend direction and momentum signals. |
| Trading Economics Turkey Housing | Widely used data aggregator citing original releases. | We used it as a convenience cross-check on the latest CBRT index level. |
| TSKB Real Estate Valuation Report | Reputable Turkish valuation institution with structured reporting. | We triangulated demand, sales dynamics, and mortgage trends for supply-side narratives. |
| Global Property Guide Turkey | Respected international property data source with consistent methodology. | We used it for rental yield data and price history context. |
| Property Turkey Market Forecast | Established Turkish real estate platform with detailed analysis. | We used their 2026 forecast to triangulate market expectations. |
| Worldometer Turkey Population | Widely referenced population data source based on UN projections. | We used it for population and urbanization statistics connected to housing demand. |
| Wikipedia Turkey Demographics | Aggregates official statistics with clear source citations. | We used it for demographic context and migration patterns, cross-referencing with TURKSTAT. |
| Wikipedia Istanbul Metro | Provides detailed infrastructure project timelines with cited sources. | We tracked metro expansion schedules affecting property values. |
| Daily Sabah Infrastructure News | Major Turkish news outlet covering official government announcements. | We used it for Ankara infrastructure project updates connected to price projections. |
| US Commercial Service Turkey | Official US government commercial intelligence on Turkish infrastructure. | We used it for major infrastructure project overviews applied to long-term value drivers. |
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If you want to go deeper, you can read the following: