Home prices in Türkiye are rising, but falling in real terms

In August 2026, home prices in Türkiye increased by 0.9% month-on-month and 23% year-on-year. However, after adjusting for inflation, home prices fell by 6.5% in real terms. Monthly price increases were 1.9% in Istanbul, 1.5% in Ankara and 2.7% in Izmir. In other words, homes are becoming more expensive in Turkish lira, but prices are rising more slowly than inflation. As a result, housing is losing value in real terms, with the decline continuing for the ninth consecutive month.