House Prices in Turkey: What the Official 2026 Numbers Actually Say
Turkish house prices rose 24.5 per cent in the year to June 2026 — and fell 5.8 per cent over the same period. Both figures come from the same central bank release. This is what the official data measures, what it leaves out, and how to use it before you buy.
Two true statements that point in opposite directions
If you search for house prices in Turkey you will find two kinds of article. One says Turkish property is booming, with prices up by roughly a quarter in a year. The other says the Turkish market is falling. Both are quoting the same official dataset, and both are technically correct.
The source is the Residential Property Price Index (RPPI), published monthly by the Central Bank of the Republic of Türkiye. In its June 2026 release the index stood at 231.5 on a 2023=100 base — meaning average quality-adjusted house prices were roughly 2.3 times their 2023 level. Month on month the index rose 2.0 per cent. Year on year it rose 24.5 per cent in nominal terms.
The same release also reports the index adjusted for consumer price inflation. On that basis prices fell 5.8 per cent over the year. Turkish inflation ran ahead of house price growth, so a home whose lira price rose by roughly a quarter still bought you less of everything else than it did twelve months earlier.
Reporting on the June 2026 figures noted that this was the seventh consecutive month in which Turkish house prices declined in real terms. That is a sustained pattern rather than a single month's noise, and it is the single most useful piece of context a foreign buyer can carry into a negotiation.
What follows is a plain reading of the official numbers: the national index, the three largest cities, the regional spread, and the transaction data from the Turkish Statistical Institute. Where a figure is not available from an official source we have said so rather than estimating it.
Residential Property Price Index
CBRT, June 2026 release · base 2023=100
The national figure hides a sixteen-point spread
A single national number is close to useless for a specific purchase decision, because Turkey is not one housing market. The CBRT publishes the index separately for the three largest cities and for each statistical region, and the gap between them is wide.
Among the big three in June 2026, Анкара recorded the strongest annual nominal growth at 25.5 per cent, with an index level of 255.5. Стамбул was close behind at 25.3 per cent with an index of 216.9, and Измир recorded 22.6 per cent with an index of 225.2. The monthly picture inverts this ranking entirely: Izmir rose 3.1 per cent in the month, Istanbul 2.1 per cent and Ankara just 1.0 per cent.
The regional spread is wider still. The highest annual increase in the June 2026 release was 33.1 per cent, in the region covering Hatay and Osmaniye. That figure should be read as a consequence of reconstruction following the 2023 earthquakes rather than as ordinary market demand, and it is not a signal that would transfer to a coastal or metropolitan purchase.
At the other end of the range, the lowest annual increase of any region was 16.5 per cent. Among other named regions in the release, Adana and Mersin recorded 21.0 per cent and Konya and Karaman recorded 18.6 per cent. With domestic inflation running above all of these, the slower regions are seeing meaningfully deeper real-terms declines than the national average implies.
The practical takeaway is that a sixteen-percentage-point spread between the fastest and slowest region means the national headline is a poor proxy for anything. If you are looking at a specific coastal town or a specific Istanbul district, the national index is background context, not evidence about your property. For area-level context, our regional guides on Istanbul apartments, Недвижимость в Анталии и Alanya apartments cover what actually drives value in each market.
What is happening to rents
The same CBRT release carries the New Tenant Rent Index, which tracks rents agreed with new tenants rather than existing contracts. In June 2026 it stood at 322.4, up 2.3 per cent on the month and 29.2 per cent year on year in nominal terms. Adjusted for inflation, new-tenant rents fell 2.2 per cent.
By city, Istanbul recorded the fastest annual rent growth at 33.4 per cent (index 304.7), followed by Ankara at 30.7 per cent (index 351.5) and Izmir at 28.4 per cent (index 323.7). Rents have therefore been rising faster than house prices in nominal terms and falling less far in real terms — a divergence worth understanding if rental income is part of your plan.
What the sales data says about demand
Prices tell you what sellers achieved. Transaction counts tell you how many deals are actually closing, which is often the better early signal. The Turkish Statistical Institute (TurkStat) publishes monthly house sales figures, and the June 2026 release was strong.
129,979 homes changed hands across Turkey in June 2026, an increase of almost 16 per cent year on year. That made it the strongest month of 2026 to that point and the highest June figure in four years. Newly built homes accounted for 43,406 of those sales, up 23.1 per cent, while second-hand homes accounted for 86,573, up 12.5 per cent.
The most striking movement was in financing. Mortgaged sales rose 72.1 per cent year on year to 25,993 units, around 20 per cent of all transactions in the month. Across the first half of 2026, mortgaged sales reached 142,794 units, an increase of 32.2 per cent. A surge of that size in mortgage-financed purchases usually reflects a change in domestic credit conditions rather than a change in foreign demand.
Set against that, total first-half sales came to 699,516 units, a decline of 3.1 per cent on the same period of 2025. June was a strong month inside a first half that was, in aggregate, slightly weaker than the year before.
Foreign buyers are a small share of a large market
Foreign nationals purchased 2,015 properties in Turkey in June 2026, up 20.1 per cent on June 2025. In the first half of 2026 they acquired 9,083 properties, a decline of 9.2 per cent against the same period in 2025 — so the strong June came inside a softer half-year for foreign demand specifically.
Russian citizens led in June with 381 purchases, followed by Ukrainian and Iranian buyers with 170 each. Foreign transactions accounted for roughly 1.6 per cent of the total housing market in the month.
If you are weighing whether to transact at all, our guides on what foreigners are permitted to buy и seven pitfalls foreign buyers still fall into cover the legal and procedural side that price data cannot address. If you are on the other side of the transaction, see selling property in Turkey.
How to read Turkish house price data before you buy
Six checks that turn a national statistic into something you can actually use on a specific property.
Establish whether the figure is nominal or real
This is the first question to ask of any Turkish price statistic, and most published articles never answer it. A 24.5 per cent rise and a 5.8 per cent fall describe the same twelve months in the same dataset. If a source quotes a growth figure without saying which basis it is on, treat the whole article as unreliable.
Check the currency the figure is measured in
The official indices are lira-denominated. A foreign buyer's return combines the lira price movement with the exchange rate movement over the holding period. Those two can offset each other, amplify each other, or cancel out entirely. Never accept a lira-based growth figure as a proxy for your own return.
Drop from national to regional before drawing conclusions
The June 2026 spread between the fastest and slowest region was more than sixteen percentage points. A national average sitting inside that range describes no actual market. Find the regional series that covers your target area and use that instead.
Separate index level from price level
An index measures change from a base year. It cannot tell you whether one city is more expensive than another in absolute terms. Comparing index levels across cities to decide where property is cheaper is one of the most common analytical errors in Turkish market commentary.
Cross-check prices against transaction volumes
Price and volume moving together tell a different story from price rising while volume falls. TurkStat's monthly sales data is published alongside the price index and is free to consult. A market where prices rise on thin volume is a market where the quoted prices may not be achievable.
Stop using market data and start using property data
No index can tell you whether the specific building has an occupancy permit, whether the title deed carries annotations, whether it meets current earthquake regulations, or whether the price includes items that were never legally built. At this point market statistics have done their job and property-level due diligence has to take over.
What the price index cannot tell you
Six things that materially affect what you pay and what you can resell for, none of which appear in any national statistic.
Occupancy permit status
A building without a valid occupancy permit (iskan) can be materially harder to finance, insure and resell. Two otherwise identical apartments can differ sharply in real value on this point alone, and no index separates them.
Earthquake code compliance
Turkish building regulations have been revised substantially over the past two decades. The construction date and the code a building was built to are among the strongest drivers of long-term value, and they are invisible in aggregate price data.
Title deed annotations
Mortgages, liens, disputes and formal restrictions are recorded against the deed itself. They do not change the asking price but they can change whether the sale can complete at all, and when you would be free to sell on.
Deed type and shared ownership
Whether a property has full condominium title or only construction servitude affects what you actually own and how straightforward a future sale will be. It is a legal distinction with a real price consequence.
Ongoing costs and charges
Service charges, maintenance obligations and annual taxes vary widely between developments and are not captured in a purchase price index. See our guide to property taxes in Turkey and to the cost of living.
Asking price versus achieved price
Listing portals show what sellers hope to get. The CBRT index is built on valuation data. The gap between the two is where negotiation happens, and it is wider in a market with falling real prices.
Which source answers which question
Three kinds of Turkish price information circulate online. They are not interchangeable, and only two of them are statistics.
| Can it tell you… | CBRT price index | TurkStat sales data | Portal listing prices |
|---|---|---|---|
| How prices changed nationally over a year | Да | Нет | Нет |
| Whether that change beat inflation | Да | Нет | Нет |
| How many homes actually sold | Нет | Да | Нет |
| How many foreign buyers transacted | Нет | Да | Нет |
| The absolute price level in a given city | Нет | Нет | Asking only |
| What a seller will actually accept | Нет | Нет | Нет |
| Whether a specific building is legally sound | Нет | Нет | Нет |
| Published by an official institution | Да | Да | Нет |
The bottom three rows are the ones worth sitting with. Nothing in the public data answers the questions that determine whether a particular purchase is a good one. The indices establish the weather; they say nothing about the building you are standing in.
For the property-level work, our Turkey property guides collect the checks in one place, and the buyer’s guide sets out the purchase process end to end.
Want the numbers for a specific property, not the country?
We will pull the comparable evidence, the title record and the permit status before you make an offer.
House prices in Turkey — frequently asked questions
The questions buyers ask most often about Turkish price data, and what the official releases actually support.
Get the data that applies to your purchase
Tell us the area and the budget you are working to and we will come back with comparable evidence for that specific market, not a national average — plus the title, permit and zone checks that no price index covers.
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