Türkiye’s September House Prices Rise 22.3% Annually but Fall in Real Terms

ANKARA — Türkiye’s residential property prices increased by 1.2% month on month and 22.3% year on year in September 2026, according to central-bank figures. After adjustment for inflation, the annual change was a 5.7% decline.

The New Tenant Rent Index rose by 2.1% during the month and 26.6% over the year, while falling by 2.4% in inflation-adjusted terms. Annual new-tenant rent growth differed across major cities, reaching 35.5% in Istanbul, 25.1% in Ankara and 23.7% in İzmir.

A real decline means prices rose more slowly than general inflation; it does not mean asking prices necessarily fell in Turkish-lira terms. Household income and financing costs also affect affordability.

The housing index uses property valuations prepared for mortgage applications, including properties that may not subsequently be sold. The new-tenant series measures current rental-market valuations rather than the average rent paid under all existing contracts, and it is not an automatic contractual rent-increase rate.

Read the original Turkish report · Official source · Additional official source · Additional official source.

Photo: Janosch Jost / Unsplash. Illustrative photograph.