Türkiye’s housing market sees continued "Real" decline amid high iInflation

New data released on Thursday, April 16, 2026, reveals that Türkiye’s property market is undergoing a period of correction. While home prices are still climbing in nominal terms, they continue to lose value when adjusted for inflation a trend that has persisted for over a year.

Data released by the Central Bank of the Republic of Türkiye (CBRT) on Thursday, April 16, 2026, confirms that while house prices are rising in total Lira value, they continue to fall in real terms when adjusted for the country's high inflation, News.Az reports, citing Hürriyet Daily News.

Türkiye’s housing prices are continuing to decline in real terms, even as nominal prices in Lira continue to climb. According to the latest data released by the Central Bank of the Republic of Türkiye (CBRT) on Thursday, April 16, 2026, the country's real estate market remains in a phase of prolonged correction. While nominal price growth reached an impressive 32.9% year-on-year, house prices actually decreased by 3.6% when adjusted for inflation.

This indicates that for investors and homeowners, property has served more as a tool for minimizing capital loss rather than a source of profit over the past year.

The average price for a standard 100-square-meter apartment in Türkiye has now officially crossed the psychological threshold of 4 million TL. Muğla, Istanbul, and Antalya remain the most expensive regions, with square-meter prices exceeding 50,000 TL.

In contrast, Ankara appears to be a more affordable alternative with an average price of around 36,500 TL per meter, triggering a shift of middle-class buyers toward the capital. However, even with the decline in real prices, housing affordability remains low due to high borrowing costs and the persistent rise in construction expenses.

A notable trend in 2026 is the sharp 147% jump in mortgage-financed sales compared to the previous year. Experts attribute this not to improved lending conditions, but to a "rent trap" dynamic.

With average monthly rents reaching 26,000 TL, many citizens are opting for mortgages, viewing monthly loan payments as a more justified investment compared to ever-rising rental costs. Despite the current dip in real value, the shortage of earthquake-resilient housing and high material costs are preventing a market collapse, setting the stage for price stabilization by the end of the year.

News.Az 

By Leyla Şirinova