Turkey housing market sees declining sales and high rent costs

Data from the Turkish Statistical Institute (TÜİK) and the Central Bank of the Republic of Türkiye reveal a complex landscape for the Turkish housing market in late 2026. Total housing sales in September 2026 fell by 9.3% year-on-year to 142,390 units, driven largely by a 15.3% decline in second-hand sales, even as first-hand sales saw a 3.9% increase.

Regional consumption patterns show significant pressure from housing costs. In the TR32 region (Muğla, Aydın, and Denizli), housing and rent expenses account for 26.1% of household consumption. Istanbul remains the most heavily impacted, with housing and rent making up 29.6% of household budgets and representing 28.4% of the country's total regional housing expenditure.

While housing prices increased by 1.2% monthly, the growth remains below inflation. The annual change in the Housing Price Index was 22.3%, compared to an annual inflation rate of 29.7%, indicating a decline in the real value of housing by 5.7%. Geographically, Istanbul led price increases at 26.8% annually, followed by Ankara at 22% and Izmir at 21%.