As reported by Open4business.com, prices on housing in Turkey in July 2026 increased by an average of 23.3% in local currency compared to last year, but high inflation completely neutralized this growth: in real terms, real estate prices fell by 6.6%, according to the July market overview of the Emlakjet and Endeksa platforms. The data was published on August 14.
The average price of a square meter of housing in the country reached 41.7 thousand Turkish liras, or about 871 dollars, and the average value of an object for sale was 5.21 million liras, which corresponds to about 109 thousand dollars.
At the same time, in July, for the first time, a small positive signal appeared in the short-term price dynamics: in a month increased by 1.9% in nominal terms and by approximately 0.5% adjusted for inflation. However, one month is still not enough to talk about a sustainable recovery of the real value of Turkish housing.
Ankara is increasing in price faster than Istanbul and Antalya
Among the 30 provinces with the largest number of transactions, the most noticeable growth was recorded in Ordu — 32.4% for the year. It is the only one of the considered provinces where the growth was positive and taking into account inflation - about 0.4%.
Ankara is in second place with a nominal growth of 28.7%, while in real terms housing in the capital has become cheaper by approximately 2.5%. It is followed by Kocaeli - plus 28.5%, Denizli - 27.1% and Elazig - 26.9%.
In Istanbul, a square meter of housing in July cost an average of 65.1 thousand liras, and the average value of the object is about 7.16 million liras, or $149.5 thousand.
In Antalya, one of the main markets for foreign buyers, the average price per square meter reached 55.5 thousand liras, and the object - about 6.1 million liras, or $127.5 thousand. In Izmir, the average price was about 54 thousand liras per square meter and 6.48 million liras per object.
The most expensive province of Turkey remains Mugla, which includes such resort centers as Bodrum and Marmaris. Here, the average price per square meter reached 87.2 thousand liras, and the object - 11.34 million liras, or almost $237 thousand. This is more than twice the national average.
Housing sales fell sharply
The increase in prices is taking place against the background of a noticeable reduction in the number of transactions. According to the TÜİK Statistical Institute of Turkey, the residential and commercial real estate sales statistics for July were published on August 13, 2026. In total, 123,603 residential properties were sold in the country in a month, which is approximately 17% less than a year earlier.
Istanbul remained the largest market with 22,600 transactions, followed by Ankara - 9,6400, Izmir - 6,550,000 and Antalya - 6,300.
At the same time, the structure of sales gives mixed signals. The number of mortgage transactions increased by 23.7%, while sales of primary housing decreased by 8.6% and secondary housing sales by 20.8%. This may indicate a gradual return to the market of a part of buyers who have the opportunity to use bank financing.
Thus, the increase in the value of Turkish real estate in liras remains largely the result of inflation. For an investor, it is more important to pay attention not only to the nominal 20-30% growth, but also to the real dynamics of the cost, the exchange rate and the yield from the lease. According to the results of July, the average object in Turkey is formally much more expensive than a year ago, but its real value continues to decrease.
Open4Business recently separately analyzed the structure of foreign buyers of Turkish real estate. According to the results of June 2026, Russian citizens took first place with 381 purchases, while Ukrainians purchased 170 objects and shared second place with Iranian citizens. In total, foreigners bought 2,015 residential properties in June. In January-June, foreign demand amounted to 9,083 objects and was 9.2% lower than last year.
Ukrainians remain one of the largest groups of home buyers in Turkey for a longer period. In 2025, Ukrainian citizens purchased 1,541 properties and took third place among foreigners, second only to Russians and Iranians. Thus, the decrease in real prices for Turkish housing is of direct interest to Ukrainian private investors, who continue to be actively present in this market.
