Where Did the Housing Market Close the Year?

In the final month of the year, the increase in housing prices remained below the inflation rate. In December, housing prices rose by 29 percent on an annual basis, while annual inflation stood at 31 percent during the same period. An analysis of monthly data shows that the housing price index recorded a limited increase of 0.2 percent in December.

When changes in consumer prices are taken into account, housing prices are calculated to have declined by 1.4 percent in real terms. Despite a limited monthly increase across Türkiye, prices fell in the three largest cities. In December, housing prices in Istanbul and Ankara declined by 0.2 percent compared to the previous month, while the decrease in Izmir remained at 0.1 percent.

Looking at annual changes, Ankara recorded the highest increase among major cities with a rise of 34.9 percent. Ankara was followed by Izmir with 30.8 percent and Istanbul with 28.5 percent. In the December 2025 period, the strongest annual increase was once again observed in the Ankara region at 34.9 percent. This was followed by the region covering Nevşehir, Niğde, Aksaray, Kırıkkale, Kırşehir, Kayseri, Sivas and Yozgat, where the annual increase was measured at 33.1 percent. By contrast, the region comprising Edirne, Kırklareli and Tekirdağ recorded a limited annual price increase of 22.1 percent. The Konya and Karaman region also ranked among the areas with lower growth nationwide, with an annual increase of 23 percent.