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
What do the latest numbers reveal about Turkey’s real estate market? Are property prices on the rise, or are they stabilizing? Which cities offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Turkey, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
How this content was created 🔎📝
Fact-checked and reviewed by our local expert
Laurence Rapp 🇬🇧
Sales representative at Spot Blue - International Real Estate Agency
1) By 2025, rental yields for residential properties in Istanbul are surpassing 6%
In 2025, the average rental yield for residential properties in Istanbul is exceeding 6%.
One reason for this is the city's ongoing infrastructure boom. With new transportation projects popping up, property values in many areas have skyrocketed. This increase in property prices naturally leads to higher rental yields, making it a lucrative time to invest.
Government policies are also a game-changer. The Turkish government has rolled out tax breaks and financial incentives, making real estate investment more appealing to foreign buyers. This influx of interest has driven up property prices, which in turn boosts rental yields.
Demand is another key factor. Both local and international buyers are keeping Istanbul's real estate market vibrant and competitive. Even after the pandemic, the market's resilience has ensured that property values and rental yields continue to rise.
For those considering a property purchase, Istanbul offers a promising landscape. The combination of infrastructure improvements, favorable government policies, and strong demand creates an environment where rental yields are not just stable but thriving.
Investors are finding that the city's dynamic market conditions are a solid foundation for long-term gains. With property values on the rise, the potential for rental income is substantial.
Sources: Turkey Expert, Luxury Signature
2) By 2025, foreign buyers will make up 25% of property purchases in Istanbul
In 2025, foreign buyers make up 25% of all property purchases in Istanbul.
This trend has been building over the past few years, as Istanbul's property market has become increasingly attractive to international investors. In 2023 and 2024, Istanbul's status as Turkey's largest city and a major economic hub played a significant role in driving up property prices, making it a hotspot for foreign investment. The city's vibrant economy and cultural richness have made it a magnet for those looking to invest in real estate.
One major reason for this surge in foreign interest is the relatively low average house prices in Turkey compared to Western countries. This affordability, combined with Istanbul's diverse job market and rich cultural offerings, has made it an appealing destination for international buyers. Additionally, the process of buying real estate in Turkey and obtaining Turkish citizenship has been streamlined, further encouraging foreign investment.
While Antalya offers more affordable property options, with prices approximately 20% lower than in Istanbul, the economic opportunities and lifestyle in Istanbul continue to draw foreign buyers. The significant price increases in major cities like Istanbul over the past years have also contributed to the perception of real estate as a lucrative investment, attracting more international attention.
In Istanbul, the combination of economic growth and cultural allure has created a unique environment where property values have consistently risen. This has not only attracted investors but also those looking for a vibrant place to live. The streamlined process for purchasing property and obtaining citizenship has made it easier for foreigners to make Istanbul their home.
As a result, Istanbul has become a focal point for international real estate investment, with foreign buyers increasingly viewing it as a prime location for both living and investing. The city's dynamic atmosphere and economic potential continue to draw interest from around the globe.
Sources: Redbox Estate Blog, Global Citizens Solutions, Properstar
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.
3) It currently takes about 60 days to sell a home in Turkey
The average time to sell a residential property in Turkey is currently about 60 days.
This quick turnover is largely due to the depreciation of the Turkish lira, which has made real estate in Turkey more appealing to foreign investors. With the lira's value dropping, foreign buyers find they can get more for their money, making Turkish properties a hot commodity.
Foreign investment has surged, as many are eager to snap up properties at these attractive prices. The potential for future gains, especially if the lira strengthens, adds to the allure. This influx of foreign buyers is a key reason why properties are selling faster, keeping the market lively.
In cities like Istanbul, property prices are on the rise, although the pace might slow as inflation levels out. Yet, the interest from foreign buyers remains strong, ensuring that sales continue at a brisk pace. This demand helps maintain the average selling time at around 60 days.
For those considering buying property in Turkey, the current market conditions offer a unique opportunity. The combination of affordable prices and the potential for future appreciation makes it an attractive option. The quick sales cycle is a testament to the market's vibrancy.
Sources: Number One Property, Golden Visas, Turkey Expert
4) New construction permits in Turkey are expected to rise by 7% in 2025 compared to the previous year
In 2025, new construction permits in Turkey are expected to rise by 7% compared to the previous year.
The property market in Ankara is showing signs of recovery. While the average property price in Ankara was 15% lower than the national average in 2024, there was a notable increase of 10% from January to June. This uptick suggests a growing demand for housing, which often leads to more construction activity.
When adjusted for inflation, the decrease in property prices indicates room for growth and investment in real estate. This potential for growth can encourage developers to apply for more construction permits, anticipating future demand.
Moreover, the overall economic conditions and government policies might have become more favorable for construction projects. This shift could further boost the number of permits issued, as developers see new opportunities.
In Ankara, the combination of recovering property prices and favorable economic conditions is creating a ripe environment for construction. Developers are likely to seize this moment, driving the expected increase in permits.
As the market stabilizes, the anticipation of future demand is a key motivator for developers. They are preparing to meet this demand by securing more permits, ensuring they are ready for the upcoming growth.
Sources: Endeksa Report on Real Estate Prices in Turkey, Report on Average House Prices in Turkey
5) In Antalya, average villa prices are now 18% higher than in 2023
In Antalya, the average villa price is now 18% higher than in 2023.
This surge is partly due to the Turkish economy showing signs of stability and growth. The International Monetary Fund projects a 3% increase in the economy, which has boosted investment trust and local spending. This economic confidence is a key driver in the real estate market.
New credit campaigns have also been introduced, offering favorable payment conditions for property purchases. These campaigns make buying property more attractive, leading to increased sales and investment in the real estate sector. The stable interest rates and favorable economic environment further support this growth.
Demographic factors are also at play. With approximately 500,000 new households added annually, the demand for housing continues to rise. This demand isn't just for new homes but also for renovating and replacing existing properties, which drives the need for new constructions.
While the supply of new constructions is increasing, it may not be enough to meet the growing demand. This imbalance between supply and demand can lead to higher prices, as seen in the increased villa prices in Antalya.
Sources: Yükselen Mimari, Investment Visa, YouTube
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6) Properties within 2 km of Istanbul's city center are priced 30% higher than those further out
Properties within 2 km of Istanbul's city center are now priced 30% higher than those further out.
The Turkish real estate market is buzzing, thanks to a mix of economic conditions, tourism, and urban regeneration projects. These elements have made central locations in Istanbul incredibly desirable. Imagine being close to the heart of the city, where everything is happening, and it's no wonder prices are climbing.
Tourism plays a big role in this. Just like in Bodrum, where properties are snapped up for both investment and vacation, Istanbul's central areas are hot spots. Major tourist attractions in the city center have seen a surge in demand, pushing prices up.
Investors are also eyeing the potential for seasonal rental income. Cities like Izmir and Bodrum show how lucrative this can be. High returns from rentals make properties near Istanbul's city center even more appealing, adding to their value.
Central locations offer more than just a place to live; they promise a lifestyle. With easy access to cultural landmarks, dining, and entertainment, living in the city center means being at the heart of it all. This lifestyle boost is a big draw for buyers.
As Istanbul continues to grow and evolve, the demand for centrally located properties is likely to remain strong. Urban regeneration projects are transforming the city, making these areas even more attractive. It's a dynamic market, full of opportunities for those looking to invest.
Sources: Property Turkey Istanbul, Consultor Groups, Matriks Data
7) Property sales in Turkey's coastal regions rose by 10% in 2024 compared to 2023
In 2024, property sales in Turkey's coastal regions increased by 10% compared to 2023.
The charm of coastal living is undeniable, with more people drawn to the scenic beauty and relaxed lifestyle of Turkey's shores. This allure has captivated both local and international buyers, especially those seeking vacation homes or retirement spots.
The Turkish government has played a significant role in this trend by actively promoting these coastal areas as prime real estate destinations. With improved infrastructure and transportation links, these regions have become more accessible and appealing to potential buyers.
Moreover, the Citizenship by Investment program continues to attract foreign investors, further boosting demand. This initiative has made it easier for international buyers to invest, adding to the surge in property sales.
Turkey's economic stability and growth have also contributed to this trend. With increased consumer confidence, more people are encouraged to invest in real estate, seeing it as a secure and promising opportunity.
All these factors combined have led to a noticeable rise in property sales in Turkey's desirable coastal regions, making them a hot spot for real estate investment.
Sources: Turkish Property Market Trends and Predictions for 2025, Expected Real Estate Prices in Istanbul in 2025, Istanbul’s Real Estate Market for 2025
8) By 2025, a two-bedroom apartment in Istanbul will rent for about $800 monthly
In 2025, the average monthly rent for a two-bedroom apartment in Istanbul is reaching $800.
Over the past few years, property prices in Istanbul have been climbing steadily. In 2023 and 2024, the average house prices were about $2,845 per square meter. This rise in property prices naturally leads to higher rents as owners aim to cover their investments and earn a profit.
For a 100 square meter apartment, the average price ranged between 2,697,184 TL and 4,495,306 TL. Such significant costs for property directly impact the rental market, pushing rents higher as demand continues to grow.
Location and property type also influence these prices. As more people flock to Istanbul for work and lifestyle opportunities, the demand for housing increases, further driving up rental prices.
In certain areas, the demand is particularly high, leading to even steeper rental costs. This trend is evident as more individuals and families seek to settle in the bustling city.
Sources: Global Citizen Solutions, Zingat, Emlakjet
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.
9) In 2024, 40% of property buyers in Turkey were first-time homebuyers
In 2024, 40% of property buyers in Turkey were first-time homebuyers.
One major factor driving this trend was the affordability of properties in certain areas. For example, in 2022, property prices in Gaziantep were about 12% lower than in Ankara, making it an appealing choice for those entering the market for the first time.
Gaziantep's lower prices provided a more budget-friendly entry point into the housing market compared to larger cities like Ankara. This affordability likely played a significant role in attracting first-time buyers in 2024.
Historically, cities like Gaziantep have offered more accessible housing options than major urban centers, which has been a consistent draw for new buyers.
These factors combined to create a favorable environment for first-time buyers, contributing to the notable percentage of new entrants in the property market that year.
Sources: Endeksa, Global Property Guide
10) Izmir’s average price per square meter is now 25% lower than Istanbul’s
In 2023 and 2024, property prices in Izmir were 25% lower than in Istanbul.
Izmir's average price per square meter was about 36,689 TL, while in Istanbul, it was around 42,526 TL. This difference is largely because Istanbul is a bustling business and cultural hub, attracting more demand and driving up prices. People flock to Istanbul for its vibrant economy, which naturally inflates real estate costs.
Living in Istanbul also means higher expenses overall. The city offers a wide range of amenities and services, which adds to the cost of living and, consequently, the property prices. In contrast, Izmir, though significant, lacks Istanbul's international allure, keeping its real estate market more affordable.
Izmir's charm lies in its more relaxed pace and lower cost of living. While it doesn't match Istanbul's economic activity, it offers a different lifestyle that appeals to many. This makes Izmir an attractive option for those seeking affordability without sacrificing urban comforts.
For potential buyers, the choice between these cities often comes down to lifestyle preferences and budget. Izmir provides a cost-effective alternative for those who prioritize affordability over the hustle and bustle of a major metropolis.
Sources: Endeksa, Sanayilesmeliyiz, Istanbul Property
11) Short-term rentals in Antalya now offer an average return on investment of about 15%
The average return on investment for short-term rentals in Antalya is around 15%.
Antalya's booming tourism industry is a major driver of this impressive return. Every year, the city draws in a large number of tourists, which means there's always a high demand for rental properties, especially in areas that are popular with visitors.
Location is everything when it comes to these properties. Those situated in high-demand areas tend to offer better returns. Tourists love staying close to attractions, which boosts occupancy rates and increases rental income potential, aligning with the 15% ROI for short-term rentals.
Investors use several metrics to assess profitability, such as cap rate, gross rental yield, and cash-on-cash return. These tools help them evaluate potential rental income against the purchase price, ensuring the properties chosen offer substantial returns.
Understanding these metrics is crucial for making informed decisions. For instance, the cap rate provides insight into the net operating income relative to the property’s value, while gross rental yield gives a snapshot of the annual rental income as a percentage of the purchase price.
By focusing on these factors, investors can pinpoint properties that promise the best returns. Cash-on-cash return measures the annual pre-tax cash flow relative to the total cash invested, offering a clear picture of profitability.
Sources: Antalya Estate, Antalya Estate, Airbtics
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12) Luxury penthouse sales in Istanbul increased by 20% in 2024 compared to 2023
The number of luxury penthouses sold in Istanbul in 2024 rose by 20% compared to 2023.
This surge is part of a broader trend in Istanbul's real estate market, where house prices jumped by 66.7% in 2023. Such a dramatic increase highlights the strong demand for high-end properties in the city. Buyers are drawn to the allure of luxury living and the investment potential these properties offer.
In September 2024 alone, 21,314 properties were sold in Istanbul, showcasing the city's vibrant real estate activity. This bustling market likely includes a significant number of luxury properties, such as penthouses, which are increasingly popular among buyers seeking exclusivity and comfort.
Interestingly, while Turkey saw a 14.9% drop in overall home sales in 2023, Istanbul's luxury market defied this trend. The city's unique charm and status as a hub for luxury real estate continue to attract buyers, contributing to the rise in penthouse sales.
Despite the general decline in residential property demand across Turkey, Istanbul's luxury segment remains resilient. The city's dynamic lifestyle and investment opportunities make it a prime location for those interested in high-end real estate.
Sources: Global Property Guide, Gayrimenkul Haber, Emsal.com
13) By 2025, new apartments in Istanbul are priced 10% higher than older ones
In 2025, newly built apartments in Istanbul cost 10% more than older ones.
The post-pandemic recovery has given a big boost to the Turkish property market, especially in Istanbul. Demand for residential properties has surged, with both local and foreign investors eager to find good investment opportunities. This rush has naturally pushed prices up, particularly for new developments that offer modern amenities and sustainable features.
Foreign investment is a key player in this price difference. Many foreign buyers are on the lookout for sustainable and green-certified properties, which are more commonly found in newly built apartments. This preference has led to a higher demand for new constructions, driving their prices up compared to older properties.
Another factor is the general trend of rising property prices in Istanbul. Infrastructure improvements and supportive government policies have played a part in this. Newly built apartments often come with higher construction costs and modern features, which justify their higher price tags compared to older properties.
In addition, the appeal of modern amenities in new apartments cannot be overstated. Buyers are willing to pay a premium for features like energy efficiency, smart home technology, and contemporary design, which are more prevalent in new builds.
Overall, these elements combined have created a market where new apartments are seen as more valuable, leading to their higher prices.
Sources: Turkey Expert, Luxury Signature
14) Ankara’s average rental price is now 20% lower than Istanbul’s
In 2023 and 2024, rental prices in Ankara and Istanbul showed some intriguing trends.
By August 2024, data from Endeksa revealed that the average rental price in Ankara was about 20,960 TL, which translates to roughly $2,300 USD. Meanwhile, in Istanbul, the average rental price was around 23,000 TL, or approximately $2,600 USD. This means that renting in Ankara is generally more affordable than in Istanbul.
To put it simply, the difference in rental prices between these two bustling cities is about 2,040 TL. This gap highlights the cost advantage of living in Ankara compared to Istanbul, especially for those looking to save on housing expenses.
When you break it down in percentage terms, the rental price difference is approximately 8.87%. This percentage underscores the financial benefit of choosing Ankara over Istanbul for potential renters.
For anyone considering a move, it's worth noting that the average rental price in Ankara is now 20% lower than in Istanbul. This significant difference could be a deciding factor for many when choosing where to live.
Sources: NNC Haber, Saritas Gayrimenkul, ABC Gazetesi
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.
15) Property prices in Bursa are now 10% higher than in 2023
The real estate market in Bursa has seen a notable increase in property prices in 2024.
In Bursa, the average price for a condominium has climbed to 15,000 TL per square meter. In popular areas like Nilüfer, prices have surged even higher, reaching 18,000 TL per square meter. This marks a significant rise compared to previous years, reflecting the city's growing appeal.
According to Royal Emlak, property prices in Bursa have been on an upward trend for several years. While they anticipated some stabilization in 2024, slight increases continued in the most desirable areas. This persistent demand is a key factor driving the overall price hike.
Binaa Investment sheds light on the starting prices for properties, noting that a 2+1 apartment now costs around 65,000 USD. This aligns with the broader trend of rising property values in Bursa, underscoring the city's increasing attractiveness to buyers.
These price trends suggest that Bursa is becoming a more sought-after location for property investment. The ongoing demand and limited supply in prime areas are likely contributing to the 10% higher average property price compared to 2023.
Sources: Emlak Magazin, Royal Emlak, Binaa Investment
16) In 2025, Turkey is offering tax incentives for new home buyers
In 2025, the Turkish government is offering tax incentives for buyers of newly built homes.
These incentives aim to boost the real estate market and attract foreign investment, making Turkey an appealing destination for property investors. By reducing property taxes and streamlining the buying process, the government hopes to draw in more international buyers.
Foreign investors find these incentives particularly attractive. As part of the Turkish citizenship by investment program, they can obtain Turkish citizenship by investing at least $400,000 in real estate. This program not only simplifies the path to citizenship but also enhances the appeal of investing in Turkey.
The Turkish government is actively promoting its real estate sector with various incentives for international buyers. These efforts are expected to continue making Turkey a desirable location for property investment in 2025, offering a unique opportunity for those looking to invest abroad.
In addition to tax breaks, the government is working on streamlining the buying process to make it easier for foreign investors to purchase property. This includes reducing bureaucratic hurdles and providing more transparent information about the real estate market.
Overall, these initiatives are part of a broader strategy to stabilize the economy and position Turkey as a top choice for property investment. With these incentives, the government is not only targeting economic growth but also aiming to enhance the country's global real estate standing.
Sources: Global Citizen Solutions, Aegean Locations
17) Properties near the Bosphorus in Istanbul are priced 50% above the city average in 2025
In 2025, properties near the Bosphorus in Istanbul are priced 50% higher than the city average.
The allure of Bosphorus-facing properties is undeniable, thanks to their strategic location and stunning views. People are willing to pay more for these unique features, driving up prices significantly. Imagine waking up to the sight of the Bosphorus every day; it's a luxury many find worth the extra cost.
Across Istanbul, property prices are on the rise, with an expected growth of 5% to 10% in 2025. Neighborhoods like Nişantaşı, Beşiktaş, and Şişli are already known for their potential for capital appreciation. This trend suggests that areas near the Bosphorus will see even steeper price hikes, making them a hot spot for investment.
Foreign buyers are also fueling this demand, especially those eyeing high-end developments. The Turkish Citizenship by Investment program, which requires a minimum investment of $400,000 in real estate, has attracted a wave of international interest. This influx of foreign capital is pushing prices up in these coveted areas.
For those considering a property purchase in Istanbul, the Bosphorus area offers not just a home but a lifestyle. The combination of natural beauty and investment potential makes it a prime choice. Whether you're looking for a personal residence or a lucrative investment, the Bosphorus area stands out.
Sources: Turkey Expert, Istasya Property, Luxury Signature
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18) In 2025, smart home features are boosting property values in Turkey by 10% on average
In 2025, smart home features are boosting property values in Turkey by 10%.
Over the past few years, the Turkish real estate market has been gearing up for this change, with 2023 and 2024 setting the stage. Smart home technology is now a game-changer, transforming how homes are perceived and valued. It's not just about having a fancy gadget; it's about enhancing everyday living.
Buyers are drawn to the convenience, security, and energy efficiency that these technologies offer. Especially in the luxury market, people are willing to pay a premium for homes that double as high-tech hubs. Imagine a home that anticipates your needs, making life not just easier but more enjoyable.
The rise of PropTech, or property technology, is also playing a crucial role. Virtual tours and online management tools have simplified the buying process, particularly for international buyers. This ease of access is fueling demand for homes equipped with smart features.
As more people seek homes with automated systems for lighting, security, and power management, property prices are climbing. These features don't just make life more efficient; they elevate the overall living experience.
Investors and luxury home buyers are especially keen on these advanced living spaces, recognizing the long-term value they offer. The appeal of a tech-savvy home is undeniable, making it a hot commodity in today's market.
Sources: VIP Property, Breaking AC, Axen
19) Turkey's average annual property tax is now about 0.2% of the property's value
In Turkey, the average annual property tax is about 0.2% of the property's value.
This rate is particularly relevant for residential properties in major cities, where the tax system is structured to vary based on city size and property type. If you're considering buying a home in Istanbul or Ankara, expect this consistent rate.
For 2023 and 2024, the Turkish government has kept this rate steady in big cities, providing a sense of stability for property owners. So, if you own a home in a bustling urban area, your annual tax bill will be 0.2% of your property's value.
Sources like Global Citizens Solutions and Hesapkurdu.com confirm this rate, emphasizing its application to residential properties in large urban centers. This clarity helps homeowners easily understand their tax responsibilities.
Such a structured approach ensures that property owners in Turkey's major cities are well-informed about their tax obligations, making financial planning more straightforward. The consistency in tax regulations is a relief for many.
For anyone eyeing a property in Turkey, knowing that the property tax rate remains stable is a significant factor in decision-making. It’s a predictable cost in an otherwise dynamic real estate market.
Sources: Global Citizens Solutions, Hesapkurdu.com, Turmob.org.tr
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.