Turkey Real Estate Prices in 2026: Current Prices, ROI, and Market Analysis

The average apartment price in Turkey exceeded 5 million Turkish lira for the first time, and the average payback period for investments decreased to 13 years. These data were published in a joint study by analytics platforms Emlakjet and Endeksa in May 2026.

Let's explore what's happening in the Turkish real estate market, why real prices are falling despite the steady rise in lira prices, and whether it's worth investing in Turkish real estate today.

Average cost of housing in Turkey in 2026

As of May 2026, the average cost of housing in Turkey is:

• the average price of an apartment is 5,020,264 TL;
• average price per 1 m² — 40,486 TL.

Over the past 12 months, prices have increased by 23.8% in national currency .

However, it is important to understand one nuance.

Economists always analyze the market using two indicators at once:

• Nominal increase - how much the price increased in Turkish Lira;
• Real growth is the change in value after taking inflation into account.

This is why, despite prices rising by almost 24%, in real terms housing costs fell by approximately 6.5% .

Why are prices rising while real value is falling?

At first glance, these figures seem to contradict each other.

In fact, everything is quite simple.

Inflation in Turkey remains higher than the rate of growth in real estate prices. Therefore, apartment prices continue to rise in lira, but the purchasing power of this currency is declining faster.

For foreign buyers, the situation is different.

If investments are made in euros, dollars or pounds sterling, the market today looks significantly more attractive than it did a few years ago.

This is why many investors are considering 2026 as a good time to buy real estate before the start of a new growth cycle.

Property sales in Turkey have fallen.

According to TÜİK data, 93,333 transactions were registered in May 2026, which is approximately 31% less than the previous year.

At the same time, the market structure has remained virtually unchanged:

• 67.6% of all transactions occur on the secondary market;
• 32.4% - for new buildings.

The number of mortgage transactions also remains relatively low.

This is due to the high cost of borrowing within Turkey. Most foreign buyers purchase property without a mortgage, and many Turkish citizens expect interest rates to fall.

Payback period for real estate in Turkey

One of the main indicators of investment attractiveness is the payback period of the property due to rent.

Based on the results of the study:

The average payback period for housing in Turkey is about 13 years.

This is one of the best indicators among popular Mediterranean countries.

The longest payback periods are observed in regions with the most expensive real estate:

• Mugla - 19 years old ;
• Elazig - 18 years old ;
• Antalya - 17 years old ;
• Aydin is 17 years old .

For comparison:

• Istanbul - 13 years ;
• Ankara - 12 years .

Why is the payback period longer in Antalya?

Many people are surprised why one of the most popular regions of Turkey shows a payback period of about 17 years .

The reason is simple.

Antalya is not only a rental market, but also a high-capitalization real estate market.

The cost of apartments here is rising faster than rental rates, so the percentage return is becoming slightly lower.

However, investors make a profit not only from rent, but also from the increase in the value of the property itself.

Therefore, when purchasing real estate, it is important to evaluate two indicators at once:

• potential price increase;
• rental income.

It is the combination of these factors that determines the overall effectiveness of investments.

The most expensive regions of Turkey

The leaders in terms of cost per square meter are:

Average apartment cost:

Ankara became the leader in price growth

Among the country's largest cities, Ankara showed the highest increase in housing prices.

Price increase over the year:

• Ankara - 30.7% ;
• Antalya - 28.8% ;
• Istanbul - 27.6% ;
• Bursa - 23% ;
• Izmir - 20.5% .

However, after accounting for inflation, real prices fell in all five major cities.

This confirms that the market is in a stabilization phase after a period of rapid growth in recent years.

What does this mean for property buyers?

For those planning to purchase an apartment for their own residence, the current situation remains favorable.

Developers continue to offer installment plans, and resale property sellers are increasingly willing to discuss individual transaction terms.

The market also looks promising for investors. Despite temporary declines in real prices, real estate in Turkey has historically demonstrated long-term growth, and the average payback period of approximately 13 years makes the market competitive with many European countries.

It is important to consider not only the average indicators for the country, but also the characteristics of a particular region, complex, and facility.

New Level Group Experts' Opinion

National averages are useful for understanding the overall situation, but when choosing a property, it is much more important to analyze the specific area, the project's infrastructure, the location's development prospects, and the property's potential for value growth.

For example, in popular areas of Alanya, modern residential complexes with developed infrastructure may demonstrate higher rental demand and better liquidity compared to the market average.

Therefore, before purchasing, we recommend evaluating not only the price per square meter, but also the expected price increase, rental demand, payback period, and the purpose of the purchase—whether for residential use, capital preservation, or income generation.

Conclusion

The Turkish real estate market will stabilize in 2026. Nominal prices continue to rise, but real prices are experiencing a correction, creating favorable conditions for buyers. The average home price has already exceeded 5 million Turkish lira , and the average payback period for investments is 13 years .

For investors, this is an opportunity to acquire property before the market's potential next growth phase, particularly in promising regions such as Antalya and Alanya, where demand from foreign buyers remains high.