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 real estate market in 2026 is showing strong momentum, with nearly 1.7 million homes sold in 2025, making it a record year for property transactions in the country.
In this blog post, we cover the current housing prices in Turkey, market trends, and what foreign buyers need to know before purchasing property, and we constantly update this content to reflect the latest data.
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.
How's the real estate market going in Turkey in 2026?
What's the average days-on-market in Turkey in 2026?
As of early 2026, the average days-on-market for residential properties in Turkey sits at approximately 65 days, based on listings data showing closed listing ages averaging around 59 to 60 days in late 2025 with a slight upward trend as buyers negotiate more in the current environment.
The realistic range that covers most typical listings in Turkey spans from about 45 days for well-priced, earthquake-safe apartments near metro stations to around 90 days for average properties, with anything above 90 days usually signaling overpricing or location issues.
Compared to one or two years ago, days-on-market in Turkey has edged up slightly because real prices have been declining in inflation-adjusted terms, which means buyers have more negotiating leverage and sellers are taking longer to accept offers below their anchored asking prices.
Are properties selling above or below asking in Turkey in 2026?
As of early 2026, most residential properties in Turkey close at roughly 3% to 8% below the asking price, meaning the typical sale-to-list ratio falls between 92% and 97%, though well-positioned units can trade closer to full asking price.
In the Turkish market, the majority of properties sell at or below asking, with perhaps only 10% to 15% of transactions closing at or above list price, and our confidence in this estimate is moderate because Turkey lacks a centralized sale-to-list database, so we triangulate from listings liquidity and professional market commentary.
Properties most likely to see bidding wars and above-asking sales in Turkey are turnkey apartments in earthquake-safe buildings located near new metro stations in Istanbul districts like Kadikoy, Atasehir, or Kagithane, as well as quality coastal homes in Antalya's prime neighborhoods like Konyaalti and Lara.
By the way, you will find much more detailed data in our property pack covering the real estate market in Turkey.
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.
What kinds of residential properties can I realistically buy in Turkey?
What property types dominate in Turkey right now?
The estimated breakdown of residential property types available for sale in Turkey shows apartments representing roughly 75% to 80% of listings in major metros like Istanbul, Ankara, and Izmir, with villas and detached houses making up the remaining 20% to 25%, mostly concentrated in coastal areas like Antalya, Bodrum, and Fethiye.
Apartments in multi-block residential complexes, known locally as "sites," represent by far the largest share of Turkey's housing market, especially in the big cities where vertical living dominates the landscape.
This apartment-dominated pattern became so prevalent in Turkey because rapid urbanization since the 1980s pushed millions into cities, construction economics favored high-density buildings, and the urban transformation (kentsel donusum) program has rebuilt older stock as modern apartment complexes with better earthquake standards.
If you want to know more, you should read our dedicated analyses:
Are new builds widely available in Turkey right now?
New-build properties make up approximately 30% to 35% of all residential listings currently available in Turkey, with around 540,000 newly built homes sold in 2025 out of 1.68 million total transactions, though availability varies significantly by district and city.
As of early 2026, the neighborhoods with the highest concentration of new-build developments in Turkey include Istanbul's expansion corridors like Basaksehir, Esenyurt, Beylikduzu, and the Asian side districts near new metro lines, plus Antalya's fast-growing areas such as Altintas, Kepez, and Konyaalti, and Ankara's Cankaya district.
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Which neighborhoods are improving fastest in Turkey in 2026?
Which areas in Turkey are gentrifying in 2026?
As of early 2026, the top neighborhoods in Turkey showing the clearest signs of gentrification include Istanbul's Bomonti in Sisli, Karakoy in Beyoglu, Balat and Fener in Fatih, Yeldegirmeni in Kadikoy, and Kagithane, along with select pockets in Ankara's Cankaya district and Izmir's Karsiyaka area.
The visible changes indicating gentrification in these Turkish neighborhoods include the opening of specialty coffee shops and boutique hotels in Karakoy, the renovation of historic Ottoman-era houses in Balat that are now converted into cafes and guesthouses, and the arrival of tech companies and co-working spaces in Bomonti's former industrial buildings.
In these gentrifying Turkish neighborhoods, estimated price appreciation over the past two to three years has ranged from 80% to 150% in nominal Turkish Lira terms, though in inflation-adjusted terms the real gains are much more modest, typically between 5% and 25% depending on building quality and exact micro-location.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Turkey.
Where are infrastructure projects boosting demand in Turkey in 2026?
As of early 2026, the top areas in Turkey where major infrastructure projects are boosting housing demand include Istanbul's Kagithane, Eyupsultan, Arnavutkoy, Atasehir, and Umraniye districts, all of which are directly benefiting from metro line expansions that dramatically reduce commute times.
The specific infrastructure projects driving demand in Turkey include the M11 Halkali-Istanbul Airport metro line nearing completion, the M12 Umraniye-Atasehir-Goztepe line scheduled for late 2026, the M5 extension to Sultanbeyli expected in mid-2026, and Antalya's upgraded airport and highway connections.
The estimated timeline for completion of these major Turkish infrastructure projects is as follows: the M11 Halkali extension opens in early 2026, the Sultanbeyli metro extension completes around May 2026, and the Umraniye-Atasehir-Goztepe line targets late 2026, with Istanbul aiming for 450 km of metro lines by 2029.
The typical price impact on nearby properties in Turkey is a 10% to 20% premium once infrastructure projects are announced, with an additional 15% to 30% appreciation often seen after completion, though the exact gains depend heavily on the quality of surrounding buildings and walkability to the new stations.
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.
What do locals and insiders say the market feels like in Turkey?
Do people think homes are overpriced in Turkey in 2026?
As of early 2026, the general sentiment among locals and market insiders in Turkey is split: most people feel homes are expensive relative to their incomes, yet data shows real prices (adjusted for inflation) have actually declined in recent periods, creating a confusing situation where affordability feels crushed even as values drop in real terms.
The specific evidence locals cite when arguing homes are overpriced in Turkey includes the fact that a typical Istanbul apartment now costs 15 to 20 years of average household income, mortgage interest rates exceed 40% annually making financing impractical, and rental yields have compressed as purchase prices rose faster than rents in many areas.
Those who believe prices are fair in Turkey typically counter that construction costs have soared due to inflation and imported materials, earthquake-compliant buildings command premium prices for good reason, and strong domestic demand from Turks using property as an inflation hedge keeps the market fundamentally supported.
The price-to-income ratio in Turkey currently sits at roughly 15 to 20 in major cities like Istanbul, which is significantly higher than the national average for Turkey of about 10 to 12 and well above regional comparisons like Greece at around 8 to 10 or Bulgaria at 6 to 8.
What are common buyer mistakes people regret in Turkey right now?
The most frequently cited buyer mistake that people regret making in Turkey is purchasing a property without verifying the earthquake compliance certificate (yapi ruhsati and iskan), the title deed (tapu) status, and whether the building has outstanding debts or legal encumbrances, which can lead to costly surprises or even the inability to resell.
The second most common buyer mistake in Turkey is underestimating the strict regulations around short-term rentals introduced by Law No. 7464, which now requires permits and neighbor consent for tourism-purpose rentals, leaving many foreign buyers who planned Airbnb income stuck with properties they cannot legally rent out as expected.
If you want to go deeper, you can check our list of risks and pitfalls people face when buying property in Turkey.
It's because of these mistakes that we have decided to build our pack covering the property buying process in Turkey.
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How easy is it for foreigners to buy in Turkey in 2026?
Do foreigners face extra challenges in Turkey right now?
The estimated overall difficulty level for foreigners buying property in Turkey compared to local buyers is moderate: foreigners can legally purchase most residential properties with full ownership rights, but they face extra friction in banking, documentation, and process navigation that locals do not encounter.
The specific legal restrictions and additional requirements that apply to foreign buyers in Turkey include a 30-hectare ownership cap per person, prohibited purchases in military or security zones, mandatory appraisal reports for transactions, and the need to obtain a Turkish tax number and open a local bank account before completing the purchase.
The practical challenges foreigners most commonly encounter in Turkey include difficulty proving income sources to Turkish banks that may not recognize foreign documentation formats, navigating the appraisal process which determines the official value for citizenship eligibility, and coordinating notarized translations of documents that must be apostilled from the buyer's home country.
We will tell you more in our blog article about foreigner property ownership in Turkey.
Do banks lend to foreigners in Turkey in 2026?
As of early 2026, mortgage financing is technically available to foreign buyers in Turkey through several major banks including Garanti BBVA, Yapi Kredi, DenizBank, and Ziraat Bankasi, but extremely high Turkish Lira interest rates around 37% to 43% annually make borrowing impractical for most international purchasers.
The typical loan-to-value ratios foreign buyers can expect in Turkey range from 50% to 70%, meaning down payments of 30% to 50% are required, while interest rates for Turkish Lira mortgages cluster around 37% to 45% annually, though foreign currency loans in USD or EUR may offer rates between 7% and 11%.
The documentation and income requirements banks typically demand from foreign applicants in Turkey include a valid passport, Turkish tax number, proof of income translated and notarized, bank statements from the past six months, and a professional appraisal of the property, with non-residents facing stricter verification standards than Turkish residents.
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.
How risky is buying in Turkey compared to other nearby markets?
Is Turkey more volatile than nearby places in 2026?
As of early 2026, Turkey's real estate market is significantly more volatile than nearby comparable markets like Greece and Bulgaria, primarily because Turkey experiences sharper inflation swings, larger currency movements, and more frequent policy shifts that create both bigger upside opportunities and greater downside risks.
Over the past decade, Turkey has experienced dramatic price swings including periods where nominal prices doubled in Turkish Lira terms within two to three years, while real prices (inflation-adjusted) showed declines of 5% to 15% during certain periods, compared to Greece and Bulgaria which saw more gradual 20% to 40% nominal movements over the same timeframe with far less currency volatility.
If you want to go into more details, we also have a blog article detailing the updated housing prices in Turkey.
Is Turkey resilient during downturns historically?
The estimated historical resilience of Turkey's property values during past economic downturns is moderate in nominal Turkish Lira terms but weaker in real terms, meaning prices tend to hold up nominally during crises but purchasing power and USD/EUR-equivalent values can decline significantly.
During the most recent major downturn tied to Turkey's 2018 currency crisis and subsequent inflation surge, nominal prices continued rising but real prices dropped roughly 15% to 25% in inflation-adjusted terms, with recovery taking approximately two to three years for values to stabilize in real terms.
The property types and neighborhoods in Turkey that have historically held value best during downturns include earthquake-compliant apartments in prime Istanbul districts like Besiktas, Kadikoy, and Sisli, as well as quality coastal properties in established Antalya neighborhoods like Konyaalti, because these areas combine strong domestic demand, good infrastructure, and building quality that insulates them from broader market weakness.
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How strong is rental demand behind the scenes in Turkey in 2026?
Is long-term rental demand growing in Turkey in 2026?
As of early 2026, long-term rental demand in Turkey is structurally strong and growing, driven by affordability pressures that prevent many households from buying, continued urbanization into major cities, and rental inflation that exceeded 70% year-over-year in mid-2025 according to TURKSTAT data.
The tenant demographics driving long-term rental demand in Turkey include young professionals priced out of homeownership in Istanbul and Ankara, university students in cities with major educational institutions, expat workers in business districts, and domestic migrants from smaller cities seeking economic opportunities in the metropolitan areas.
The neighborhoods in Turkey with the strongest long-term rental demand right now include Istanbul's Kadikoy, Atasehir, Besiktas, Sisli, and Sariyer districts on both sides of the city, Ankara's Cankaya district, and Izmir's Karsiyaka and Bornova areas, all of which combine job access, university proximity, and good public transport connections.
You might want to check our latest analysis about rental yields in Turkey.
Is short-term rental demand growing in Turkey in 2026?
Turkey's Law No. 7464, enacted in late 2023, now requires property owners to obtain permits and secure neighbor consent before operating short-term rentals for tourism purposes, which has made Airbnb-style operations significantly more complex and pushed many casual hosts out of the market.
As of early 2026, short-term rental demand in Turkey remains strong in tourism-heavy destinations, but the growth is now concentrated among professional operators who can navigate the permit requirements, rather than individual property owners who previously listed units casually.
The current estimated average occupancy rate for short-term rentals in Turkey varies significantly by location, with prime Istanbul neighborhoods like Beyoglu and Kadikoy seeing 55% to 70% annual occupancy, while coastal areas like Antalya's Kaleici and Bodrum's center reach 40% to 60% with strong summer peaks.
The guest demographics driving short-term rental demand in Turkey include European tourists seeking affordable Mediterranean holidays, Russian and Middle Eastern visitors for both leisure and medical tourism, digital nomads attracted to Turkey's lifestyle and cost advantages, and business travelers attending conferences in Istanbul.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Turkey.
We made this infographic to show you how property prices in Turkey compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What are the realistic short-term and long-term projections for Turkey in 2026?
What's the 12-month outlook for demand in Turkey in 2026?
As of early 2026, the estimated 12-month demand outlook for residential property in Turkey is steady to improving, supported by record transaction volumes of 1.68 million sales in 2025 and expectations that declining interest rates will gradually improve financing conditions for domestic buyers.
The key economic and political factors most likely to influence demand in Turkey over the next 12 months include the pace of central bank interest rate cuts (currently at 37% and expected to fall further), inflation trajectory which is projected to decline to the low 20% range, and currency stability which affects both foreign buyer interest and domestic affordability.
The forecasted price movement for Turkey over the next 12 months is continued nominal price increases of roughly 20% to 35% in Turkish Lira terms, but real price growth (after inflation adjustment) is expected to be flat to slightly positive at 0% to 10% depending on how quickly inflation moderates.
By the way, we also have an update regarding price forecasts in Turkey.
What's the 3 to 5 year outlook for housing in Turkey in 2026?
As of early 2026, the estimated 3 to 5 year outlook for housing prices and demand in Turkey is cautiously optimistic, with analysts projecting the real estate sector could grow at 10% to 11% compound annual growth rate through 2030 if macroeconomic stabilization continues and inflation falls to single digits.
The major development projects and urban plans expected to shape Turkey over the next 3 to 5 years include Istanbul's metro network expansion to 700 km by 2030, continued urban transformation projects replacing earthquake-vulnerable buildings with modern stock, and ongoing infrastructure investments in coastal cities like Antalya that support tourism and lifestyle demand.
The single biggest uncertainty that could alter the 3 to 5 year outlook for Turkey is whether inflation can be sustainably reduced to the central bank's 5% medium-term target, because failure to achieve disinflation would keep interest rates elevated, erode real returns for property owners, and potentially trigger renewed currency weakness that affects foreign investor confidence.
Are demographics or other trends pushing prices up in Turkey in 2026?
As of early 2026, demographic trends are exerting significant upward pressure on housing prices in Turkey, with continued population growth, rapid urbanization into major metros, and household formation rates that exceed new housing supply in desirable districts all contributing to sustained demand.
The specific demographic shifts most affecting prices in Turkey include the ongoing migration of young workers from eastern provinces to Istanbul, Ankara, and coastal cities for employment, a growing middle class that views property ownership as essential wealth preservation, and the concentration of university students in major urban centers that drives rental and entry-level housing demand.
Non-demographic trends also pushing prices in Turkey include domestic buyers using real estate as an inflation hedge against the declining Turkish Lira, sustained foreign interest from Russian, Middle Eastern, and European buyers attracted by lifestyle factors and residency pathways, and the tourism boom that supports both short-term rental demand and lifestyle property purchases in coastal regions.
These demographic and trend-driven price pressures in Turkey are expected to continue for at least the next 5 to 10 years, because urbanization is not complete, the young population continues forming households, and Turkey's geographic position and climate will keep attracting both domestic migrants and international buyers seeking Mediterranean access at lower prices than Southern Europe.
What scenario would cause a downturn in Turkey in 2026?
As of early 2026, the most likely scenario that could trigger a housing downturn in Turkey would be a combination of renewed inflation acceleration forcing the central bank to reverse rate cuts, a sharp currency depreciation that erodes foreign buyer confidence, and a macroeconomic shock that reduces employment and household incomes.
The early warning signs that would indicate such a downturn is beginning in Turkey include a significant increase in days-on-market above 90 days nationally, a sharp decline in mortgage-financed purchases which already represent only about 14% of transactions, rising defaults on developer payment plans, and foreign buyer volumes dropping below 15,000 annual transactions.
Based on historical patterns, a potential downturn in Turkey could realistically see nominal prices stagnate or rise slowly while real prices decline 10% to 20% over one to two years, with average-quality stock in peripheral locations suffering most while prime, earthquake-compliant properties in well-connected districts would likely hold value better and recover faster.
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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 | Why We Trust It | How We Used It |
|---|---|---|
| Turkish Statistical Institute (TURKSTAT) | It is Turkey's official statistics agency and the primary source for housing transaction counts and demographic data. | We used it to anchor market activity analysis with official sales volumes, provincial breakdowns, and foreign purchase statistics. We treat it as the baseline for verifying any claims about market size or trends. |
| Central Bank of Turkey (TCMB) RPPI | It is the central bank's official house price index used for macroeconomic monitoring and policy decisions. | We used it to understand national price momentum and compare nominal versus real price changes. We cross-reference it with TURKSTAT transactions and private indices to ensure consistency in our price analysis. |
| BETAM/sahibindex | It is a transparent listings-based dataset built with a university research center using actual market listings data. | We used it for market micro-signal metrics like closed listing age as a liquidity proxy. We treat it as the best public window into day-to-day market liquidity and buyer-seller dynamics. |
| Colliers Turkey | Colliers is a major global real estate consultancy with professional research standards and local Turkish market expertise. | We used it to cross-check demand direction and market sentiment against official statistics. We rely on their professional interpretation for on-the-ground insights that raw data cannot provide. |
| REIDIN | REIDIN is a long-running Turkey-focused index provider used by real estate professionals for price and rent tracking. | We used it as an independent price and rent trend verification against CBRT and listings data. We rely on it when we need a second Turkey-native quantitative lens for our analysis. |
| Metro Istanbul | It is the official project list from Istanbul's metro operator showing actual construction status and timelines. | We used it to identify where transit expansion is most likely to shift housing demand. We map these projects to specific districts and emerging neighborhoods for investment analysis. |
| Esin Attorney Partnership | Esin is a top-tier Turkish law firm providing legal updates tied directly to enacted legislation. | We used it to explain the regulatory framework for short-term rentals under Law No. 7464. We treat it as the authoritative source for understanding the practical rules affecting Airbnb-style operations. |
| OECD House Price Tracker | The OECD standardizes cross-country housing indicators allowing fair international comparisons. | We used it to compare Turkey's price volatility and cycles to nearby peer markets. We rely on it as an external sanity check against Turkey-only sources for risk assessment. |
| BIS Real Property Prices via FRED | It is a widely used public gateway to Bank for International Settlements housing data, enabling long-run analysis. | We used it to frame historical resilience and real price behavior during downturns. We triangulate it with CBRT direction to avoid single-source bias in our cycle analysis. |
| Global Property Guide | It provides standardized international property market analysis used by investors and researchers worldwide. | We used it for context on Turkey's market position relative to international benchmarks. We reference their rental yield and price-to-income comparisons for affordability analysis. |