Housing Prices in Turkey: July 2025 Report
The real estate market in Turkey continues to grow nominally, but the dynamics are different when adjusted for inflation. According to Endeksa, in July 2025, prices for apartments and houses for sale increased by 27.8% y/y and 1.1% m/m.
In real terms, taking inflation into account, it's −4.9% per year and −0.6% per month.
The average price per 1 m² is 33,832 TL.
The average apartment price is 4.4 million TL.
Payback period is ≈13 years.
Key Figures for July 2025
Nominal Growth vs Real Decline
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Nominal: +27.8% y/y, +1.1% m/m.
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Real (adjusted for inflation): −4.9% y/y, −0.6% m/m.
Meaning for the buyer: now you can buy an apartment in Turkey closer to the «real» cost — bargaining is appropriate, especially in the secondary market.
Transactions and Mortgages
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Sales: 142,858 properties (+12.4% y/y).
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January–July: 834,751 properties (+24.2% y/y).
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Mortgage: +93.2% y/y, the share increased from 9.4% → 14.6%.
Conclusion: reduced rates and bank campaigns have revived demand. This is a plus for rental strategies: liquidity is growing.
Regional Overview: Where the Market is Stronger
Growth Leaders (Nominal / Real)
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Diyarbakır: +63.0% / +21.4%, 27,277 TL/m², average apartment 4.2 million TL.
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Çanakkale: +45.0% / +8.0%, 45,324 TL/m², average 5.4 million TL.
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Manisa: +44.0% / +7.2%, 30,164 TL/m², average 3.8 million TL.
Minimum Growth Among Top 3
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Hatay: +17.0% / −12.9%, 23,555 TL/m², average 3.6 million TL.
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Muğla: +18.3% / −11.9% (highest prices), 72,622 TL/m², average 8.0 million TL.
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Aydın: +20.6% / −10.2%, 46,169 TL/m², average 6.3 million TL.
4 Largest Cities: Where to Buy in 2025
| City | Price Dynamics (Nom./Real) | Price per m² (TL) | Average Apartment Price |
|---|---|---|---|
| Ankara | +37.9% / +2.7% | 30,060 | 3.9 million TL |
| Istanbul | +27.8% / −4.8% | 51,447 | 5.9 million TL |
| Izmir | +27.8% / −4.8% | 44,617 | 5.6 million TL |
| Antalya | +24.4% / −7.4% | 44,109 | 4.9 million TL |
For the long term in 2025, Ankara and individual micro-locations in Istanbul are more profitable. Resort regions look overheated in real terms.
Rental Market: Demand is Alive, Real Yield Under Pressure
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Nominal: +32.8% y/y, +2.2% m/m.
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Real: −1.1% y/y, 0% m/m.
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Average rate: 225 TL/m², average apartment rent is 23,402 TL/month.
For rental investors: incomes are growing nominally, but inflation «eats away» part of the result. When calculating payback, consider real rates and indexation.
What Should Buyers and Investors in Turkey Do in 2025
Practical Steps
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Focus on the «real price»: analyze transactions in the area, not just listings.
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Consider installment plans: conditions have become softer, leverage increases ROI when renting.
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Choose locations selectively: Ankara, «right» districts of Istanbul; avoid overheated resort segments without a discount.
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Calculate rent in «real terms»: index income, consider expenses (taxes, maintenance).
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Plan your exit: a horizon of 3–5 years with the option to resell; remember the tax rules during the ownership period.
FAQ — Briefly About the Main Points
1) Why do the numbers differ: growth nominally and fall in reality?
Inflation is higher than the growth rate of real prices, so purchasing power does not decrease so much.
2) Where is it optimal to buy now?
Ankara and selectively Istanbul. In resort regions, act through «good bargaining» or local niches.
3) What about rent?
There is demand, but the real yield is lower than the nominal one — check the payback period taking inflation into account.
4) Is this a good time to enter?
Yes, the market is in a transitional phase: the buyer has more negotiating power, especially in the secondary market.
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