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 (QTRR368BIS) from Q1 2011 to Q4 2024 about Turkey, residential, housing, real, and price.

Housing Index in Turkey increased to 176.40 points in April from 174 points in March 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.

Residential Property Prices in Turkey increased 28.54 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Turkey Residential Property Prices.

TR: House Price Index: YoY data was reported at 28.500 % in Dec 2024. This records a decrease from the previous number of 33.300 % for Sep 2024. TR: House Price Index: YoY data is updated quarterly, averaging 12.650 % from Mar 2011 (Median) to Dec 2024, with 56 observations. The data reached an all-time high of 180.500 % in Sep 2022 and a record low of 2.500 % in Jun 2019. TR: House Price Index: YoY data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Turkey – Table TR.Eurostat: House Price Index.

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 1015.

TR: House Price Index: Existing Dwellings data was reported at 1,820.740 2015=100 in Dec 2024. This records an increase from the previous number of 1,711.280 2015=100 for Sep 2024. TR: House Price Index: Existing Dwellings data is updated quarterly, averaging 125.470 2015=100 from Mar 2010 (Median) to Dec 2024, with 60 observations. The data reached an all-time high of 1,820.740 2015=100 in Dec 2024 and a record low of 55.700 2015=100 in Mar 2010. TR: House Price Index: Existing Dwellings data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Turkey – Table TR.Eurostat: House Price Index.

The Analysis of Turkey Residential Real Estate Market is Segmented by Type (Condominiums and Apartments and Villas and Landed Houses) and Key Cities (Istanbul, Bursa, Antalya, Fethiye, Bodrum, and Rest of Turkey). The Report Offers the Market Size and Forecasts for Turkey's Residential Real Estate Market in Value (USD Billion) for all the Above Segments.

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]

As of May 2024, the unit prices of the residential properties in Turkey hit nearly 33,500 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 47,300 thousand Turkish lira per square meter

Real residential property prices Y-on-Y, percent change in Turkey, December, 2024 The most recent value is -12.34 percent as of Q4 2024, an increase compared to the previous value of -13.51 percent. Historically, the average for Turkey from Q1 2011 to Q4 2024 is 7.13 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

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

House Price Index: Hatay, Kahramanmaras, Osmaniye data was reported at 205.280 2010=100 in Sep 2018. This records an increase from the previous number of 204.990 2010=100 for Aug 2018. House Price Index: Hatay, Kahramanmaras, Osmaniye data is updated monthly, averaging 142.470 2010=100 from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 205.780 2010=100 in Jul 2018 and a record low of 96.950 2010=100 in Jan 2010. House Price Index: Hatay, Kahramanmaras, Osmaniye 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.

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.

House price index in Turkey, December, 2024 The most recent value is 3300.23 index points as of Q4 2024, an increase compared to the previous value of 3093.81 index points. Historically, the average for Turkey from Q1 2010 to Q4 2024 is 574.21 index points. The minimum of 97.39 index points was recorded in Q1 2010, while the maximum of 3300.23 index points was reached in Q4 2024. | TheGlobalEconomy.com

The real estate transaction value in the 'Residential Real Estate Transactions' segment of the real estate market in Turkey was forecast to continuously increase between 2024 and 2029 by in total 5.6 billion U.S. dollars (+11.9 percent). After the eleventh consecutive increasing year, the real estate transaction value is estimated to reach 52.62 billion U.S. dollars and therefore a new peak in 2029. Notably, the real estate transaction value of the 'Residential Real Estate Transactions' segment of the real estate market was continuously increasing over the past years.Find more key insights for the real estate transaction value in countries and regions like the real estate transaction value in the 'Residential Real Estate Transactions' segment of the real estate market in the world and the real estate transaction value in the 'Residential Real Estate Transactions' segment of the real estate market in Canada. The Statista Market Insights cover a broad range of additional markets.

In 2024, Turkey was the country with the highest increase in house prices since 2010 in Europe. In the fourth quarter of the year, the nominal house price index in Turkey reached ******** index points. House prices in Turkey have soared since 2021, fueled by hyperinflation in the country. According to the index, which amounted to *** in 2010, house prices in Turkey increased by almost ***** percent (** times) since 2010, the baseline year when the index value was set to ***. Iceland had the second-highest increase, at ****** index points (*** percent). It is important to note that the nominal index does not account for the effects of inflation, meaning that price growth in real terms was slower.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, ranging from rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 3.7% over the five years through 2024, including an estimated slump of 2.1% in 2024 to €196.2 billion, while the average industry profit margin is forecast to reach 34.6%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing in 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, being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. Revenue is forecast to swell at a compound annual rate of 4% over the five years through 2029 to €238.7 billion. Following a correction during 2024, housing prices are set to being 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, which has been heavily invested in, will force estate agents to adapt, shaking up the traditional real estate industry. A notable application of Proptech is the use of AI and data analytics to predict a home’s future value.

The nominal house price indices in Turkey followed an increasing trend from 2011 to 2023. In 2023, the figures presented a significant growth by 75.5 percent compared to the previous year and amounted to nearly 1,377 index points.