Turkish households shift savings toward gold and real estate

Recent survey data from the Central Bank of the Republic of Türkiye (TCMB) and Koç University indicate a significant shift in household saving preferences. According to the TCMB October 2026 Household Expectation Survey, gold remains the primary choice for protecting savings, with 43.3% of participants selecting it. Real estate interest also saw a notable increase, rising 2 percentage points to 35.6%.

Concurrently, the Koç University survey shows that inflation expectations for the next 12 months have risen to 47%, marking the highest increase since April 2025. This upward trend in inflation expectations is accompanied by a rise in the 12-month average USD/TRY expectation, which moved from 62.1 lira in August to 63.75 lira in September.

Financial instruments such as investment funds, the stock market, and foreign currency have seen a decline in popularity as households pivot toward physical assets and gold to hedge against economic uncertainty and market volatility.