Türkiye housing prices see 6.5% real decline in August

Data from the Central Bank of the Republic of Türkiye for August 2026 shows that while nominal housing prices rose by 0.9% monthly and 23% annually, real housing prices fell by 6.5% when adjusted for inflation. This marks the ninth consecutive month of real decline in the Housing Price Index (KFE).

In major cities, monthly increases were recorded in Istanbul (1.9%), Ankara (1.5%), and Izmir (2.7%). Regionally, the highest annual nominal increase occurred in the area including Bingöl, Elazığ, Malatya, Tunceli, Van, Bitlis, Hakkâri, and Muş, at 27%, while the lowest was in the Edirne, Kırklareli, and Tekirdağ region at 13%.

The New Tenant Rent Index (YKKE) rose by 2.3% monthly in August. On an annual basis, the index increased by 26.4% nominally but decreased by 3.9% in real terms. Istanbul saw the highest annual increase in new tenant rents at 34.5%, while the Edirne, Kırklareli, and Tekirdağ region saw the lowest at 17.3%.

Additionally, based on Turkish Statistical Institute (TÜİK) data, the legal rent increase rate for September 2026 has been set at 31.79%, calculated from the twelve-month average of the Consumer Price Index (TÜFE).