Turkey Home Prices Decline in Real Terms Despite Nominal Rise
According to data released by the Central Bank of Turkey on April 16, 2026, residential property prices across Türkiye continued to decline in real terms during March. While the Residential Property Price Index (RPPI) showed a nominal annual increase of 26.4 percent and a monthly rise of 2 percent, it recorded a 3.4 percent annual decrease when adjusted for inflation. Major cities followed this trend; Istanbul, Ankara, and Izmir saw nominal annual price hikes of 27.8 percent, 30.4 percent, and 24.3 percent respectively, alongside monthly increases ranging from 2.2 to 2.8 percent. Concurrently, the New Tenant Rent Index (NTRI) rose by 2 percent monthly and 34.4 percent annually in nominal terms, translating to a 2.7 percent real annual increase. Rent indices in Istanbul, Ankara, and Izmir also surged nominally between 35 and 39.4 percent annually. This divergence between nominal and real values highlights the impact of high inflation on the housing market, indicating that while sticker prices are rising, the actual value of properties is eroding. The data underscores ongoing economic pressures affecting both homeowners and tenants in Turkey's largest urban centers.
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Turkey Home Prices Decline in Real Terms Despite Nominal Rise
According to data released by the Central Bank of Turkey on April 16, 2026, residential property prices across Türkiye continued to decline in real terms during March. While the Residential Property Price Index (RPPI) showed a nominal annual increase of 26.4 percent and a monthly rise of 2 percent, it recorded a 3.4 percent annual decrease when adjusted for inflation. Major cities followed this trend; Istanbul, Ankara, and Izmir saw nominal annual price hikes of 27.8 percent, 30.4 percent, and 24.3 percent respectively, alongside monthly increases ranging from 2.2 to 2.8 percent. Concurrently, the New Tenant Rent Index (NTRI) rose by 2 percent monthly and 34.4 percent annually in nominal terms, translating to a 2.7 percent real annual increase. Rent indices in Istanbul, Ankara, and Izmir also surged nominally between 35 and 39.4 percent annually. This divergence between nominal and real values highlights the impact of high inflation on the housing market, indicating that while sticker prices are rising, the actual value of properties is eroding. The data underscores ongoing economic pressures affecting both homeowners and tenants in Turkey's largest urban centers.
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