Key information about House Prices Growth

• Turkey house prices grew 29.4% YoY in Dec 2024, following an increase of 29.4% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 2011 to Dec 2024, with an average growth rate of 12.4%.
• House price data reached an all-time high of 186.8% in Oct 2022 and a record low of 1.2% in Jun 2019.

Graph and download economic data for Real Residential Property Prices for Turkey (QTRR628BIS) from Q1 2010 to Q1 2025 about Turkey, residential, HPI, housing, real, price index, indexes, and price.

Residential Property Prices in Turkey increased 31.84 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Turkey Residential Property Prices.

Housing Index in Turkey increased to 187.70 points in July from 186 points in June of 2025. This dataset provides the latest reported value for - Turkey House Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of March 2024, Ankara became the region with the highest house price index (HPI) in Turkey. The largest city in the Republic of Turkey, Istanbul, recorded a house price index (HPI) of about ******

Turkey experienced the highest annual change in house prices in 2024, followed by Bulgaria and Russia. In the fourth quarter of the year, the nominal house price in Turkey grew by **** percent, while in Bulgaria and Russia, the increase was ** and ** percent, respectively. Meanwhile, many countries saw prices fall throughout the year. That has to do with an overall cooling of the global housing market that started in 2022. When accounting for inflation, house price growth was slower, and even more countries saw the market shrink.

Key information about Turkey Gold Production

• Turkey Real Residential Property Price Index was reported at 224.559 2010=100 in Sep 2024.
• This records a decrease from the previous number of 229.125 2010=100 for Jun 2024.
• Turkey Real Residential Property Price Index data is updated quarterly, averaging 118.882 2010=100 from Mar 2010 to Sep 2024, with 59 observations.
• The data reached an all-time high of 263.702 2010=100 in Jun 2023 and a record low of 98.667 2010=100 in Mar 2010.
• Turkey Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

Turkey Residential Real Estate Market Report is Segmented by Property Type (Villas & Landed Houses, Apartments & Condominiums), by Price Band (Affordable Housing, Mid-Market, and Luxury), by Business Model (Sales and Rental), by Mode of Sale (Primary (New-Build), and More), and by Key Cities (Istanbul, Ankara and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Turkey Residential Real Estate Market Outlook 2031

The Turkey residential real estate market size was USD 79.92 Billion in 2022 and is projected to reach USD 212.88 Billion by 2031 expand at a CAGR of 11.5% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing surge in foreign buyer, rising population, affordable financing options.



Turkey is known for its diverse set of both oriental and European elements, country is a lucrative destination due to its tourism, infrastructure, transportation facilities, and ease of living. Turkey is at a historical combination of aspects where urban transformation meets green housing which is expected to improve affordability and quality of housing and community development. According to Housing Development Administration of Turkey (TOKi) a total of 500,000 residential units were constructed between 2003-2010 in 81 provinces and 830 townships across the country.

In 2002 Turkish property market was first opened to foreign buyers under the reciprocity clause. According to this clause only countries allowing Turkish citizens reciprocal rights, such as Britain, Germany, and Netherlands. The reciprocity clause was abolished in 2012, and since then nationals from 183 countries have been allowed to buy properties in Turkey.



The residential real estate market in Turkey was impacted negatively by the onset of Covid-19 in 2020, the market has since regained some of the momentum due to ease of restrictions worldwide. According to Turkish Statistical Institute Turkish Statistical Institute (TurkStat) in the first four months of 2020, the total number of home sales in Turkey rose by 8.9% to 383,821 units.

Turkey Residential Real Estate Market Trends, Drivers, Restraints, and Opportunities

• Rising population, increasing urbanization, disposable income growth, and affordable financing are major factors driving the market growth during the forecast period.


• Increasing demand for residential real estate among the foreign buyers due to factor such as

The Turkish residential real estate market, valued at $99.05 million in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 11.16% from 2025 to 2033. This growth is driven by several factors. Increasing urbanization and a burgeoning young population fuel demand for housing, particularly in key cities like Istanbul, Antalya, and Bodrum, known for their tourism and economic activity. Government initiatives aimed at stimulating the construction sector and infrastructure development also contribute positively. Furthermore, Turkey's strategic geographic location and relatively affordable property prices compared to Western European nations attract both domestic and international investors. However, economic volatility and fluctuating exchange rates represent significant challenges. Inflationary pressures and potential interest rate hikes can impact affordability and deter buyers. Furthermore, the market's dependence on tourism in some regions makes it vulnerable to external shocks like global pandemics or geopolitical instability. The segmentation of the market, encompassing apartments/condominiums, villas, and landed houses, caters to diverse buyer preferences and contributes to the overall market dynamism. Leading developers such as Sinpas Group, Agaoglu Group, and others play a vital role in shaping the market's trajectory. The segment of apartments and condominiums dominates the market, driven by affordability and high population density in urban centers. Villas and landed houses cater to a more affluent segment, with significant demand in coastal areas and regions with scenic landscapes. While the Turkish domestic market forms the core of demand, international buyers, especially from the Middle East and Europe, contribute significantly, especially to the high-end segments. The analysis of past performance (2019-2024) reveals significant variations linked to economic cycles and international events. Projecting forward, a cautious optimism is warranted, with growth contingent on macro-economic stability and sustained investor confidence. Detailed regional breakdowns within Turkey and global comparisons will provide further granular insights into market dynamics. This insightful report provides a deep dive into the Turkish residential real estate market, offering a comprehensive analysis of its current state, future trends, and key players. With a focus on the period from 2019 to 2033, including a base year of 2025 and a forecast period spanning 2025-2033, this report is an essential resource for investors, developers, and industry professionals seeking to understand and capitalize on opportunities within this dynamic sector. The report leverages data from the historical period (2019-2024) to provide accurate and reliable projections. Keywords: Turkish real estate market, Istanbul property market, Antalya real estate, Bodrum property, Turkish residential market analysis, real estate investment Turkey, Turkish construction industry, Turkish housing market forecast. Key drivers for this market are: Increasing Investment in Infrastructure Projects, The rising popularity of sustainable architecture. Potential restraints include: Volatility in Raw material prices. Notable trends are: Increasing FDI Flow in the Residential Real Estate Market in Turkey.

House price index in Turkey, March, 2025 The most recent value is 3622.43 index points as of Q1 2025, an increase compared to the previous value of 3300.23 index points. Historically, the average for Turkey from Q1 2010 to Q1 2025 is 624.18 index points. The minimum of 97.39 index points was recorded in Q1 2010, while the maximum of 3622.43 index points was reached in Q1 2025. | TheGlobalEconomy.com

Turkey Residential Property Price Index (RPPI): Existing Dwellings data was reported at 108.320 2017=100 in Feb 2019. This records an increase from the previous number of 107.410 2017=100 for Jan 2019. Turkey Residential Property Price Index (RPPI): Existing Dwellings data is updated monthly, averaging 69.765 2017=100 from Jan 2010 (Median) to Feb 2019, with 110 observations. The data reached an all-time high of 109.500 2017=100 in Jul 2018 and a record low of 45.250 2017=100 in Jan 2010. Turkey Residential Property Price Index (RPPI): Existing Dwellings data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: Residential Property Price Index.

In 2023, the Turkey Real Estate Market reached a value of USD 126.8 million, and it is projected to surge to USD 173.7 million by 2030.

Real residential property prices Y-on-Y, percent change in Turkey, March, 2025 The most recent value is -5.63 percent as of Q1 2025, an increase compared to the previous value of -12.34 percent. Historically, the average for Turkey from Q1 2011 to Q1 2025 is 6.91 percent. The minimum of -13.51 percent was recorded in Q3 2024, while the maximum of 57.25 percent was reached in Q1 2023. | TheGlobalEconomy.com

As of May 2024, the unit prices of the residential properties in Turkey hit nearly ****** Turkish lira per square meter. The highest unit prices of the residential properties were in the largest and most populated city, Istanbul, which reached almost ****** thousand Turkish lira per square meter

The nominal house price indices in Turkey followed an increasing trend from 2011 to 2023. In 2023, the figures presented a significant growth by **** percent compared to the previous year and amounted to nearly ***** index points.

Graph and download economic data for Harmonized Index of Consumer Prices: Actual Rentals for Housing for Turkey (CP0410TRM086NEST) from Jan 1996 to Jul 2025 about Turkey, rent, harmonized, CPI, housing, price index, indexes, and price.

This dataset contains information about home prices in different cities in Turkey. It includes various features such as square meter size, number of rooms, floor level, age of the building, heating type, and other attributes that may affect the price of a home.

Net_Metrekare: The net square meter area of the house.

Brüt_Metrekare: The gross square meter area of the house.

Oda_Sayısı: The number of rooms in the house.

Bulunduğu_Kat: The floor level of the house.

Eşya_Durumu: Indicates whether the house is furnished or not.

Binanın_Yaşı: The age of the building (e.g., "0 (New)", "5-10", "21 and Above").

Isıtma_Tipi: The heating type (e.g., "Kombi Doğalgaz", "Klimalı").

Fiyat: The price of the house in Turkish Lira (TRY). (Target)

Şehir: The city where the house is located.

Binanın_Kat_Sayısı: Total number of floors in the building.

Kullanım_Durumu: Indicates whether the house is occupied or vacant.

Yatırıma_Uygunluk: Whether the house is suitable for investment.

Site_İçerisinde: Whether the house is inside a residential complex.

Takas: Indicates if the house can be exchanged with another property.

Krediye_Uygunluk: Whether the house is eligible for a mortgage.

Tapu_Durumu: The legal status of the property title (e.g., "Kat Mülkiyeti").

Banyo_Sayısı: The number of bathrooms in the house.

Turkey House Price Index: Istanbul data was reported at 313.080 2010=100 in Sep 2018. This records an increase from the previous number of 308.630 2010=100 for Aug 2018. Turkey House Price Index: Istanbul data is updated monthly, averaging 175.260 2010=100 from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 313.080 2010=100 in Sep 2018 and a record low of 96.690 2010=100 in Jan 2010. Turkey House Price Index: Istanbul data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: House Price Index.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, notably rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated jump of 1.2% in 2025 to €207.6 billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing over the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated (2021-2023), being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent prices to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this has started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, PropTech—technology-driven innovations designed to improve and streamline the real estate industry—will force estate agents to adapt, shaking up the traditional real estate sector. A notable application of PropTech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.