Turkey’s Housing Price Index (KFE) increased by 0.9% in August compared with the previous month. Compared with August last year, the index rose by 23% in nominal terms but fell by 6.5% in real terms.
This means that, in real terms, house prices continued to lose ground against inflation. According to the latest figures, there has been a real decline in housing prices in 29 of the past 30 months.
House Prices Increased in Istanbul, Ankara and Izmir
In August, the Housing Price Index increased by 1.9% in Istanbul, 1.5% in Ankara and 2.7% in Izmir compared with the previous month.
Compared with the same month last year, house prices increased by 26.3% in Istanbul, 24.8% in Ankara and 23.3% in Izmir.
Regional figures show considerable differences across Turkey.
The highest annual increase in house prices, at 27.0%, was recorded in the region covering Bingöl, Elazığ, Malatya, Tunceli, Van, Bitlis, Hakkâri and Muş.
The lowest annual increase was recorded in the Edirne, Kırklareli and Tekirdağ region, where house prices increased by just 13.0% compared with August 2025.
New Tenant Rents Also Increased
The New Tenant Rent Index (YKKE) increased by 2.3% in August compared with the previous month.
On an annual basis, the index increased by 26.4% in nominal terms but fell by 3.9% in real terms.
In Istanbul, Ankara and Izmir, the monthly increases were 4.9%, 2.6% and 5.4% respectively.
Compared with August 2025, the New Tenant Rent Index increased by 34.5% in Istanbul, 28.3% in Ankara and 25.5% in Izmir.
Regional differences were again significant. The highest annual increase was recorded in the Istanbul region at 34.5%.
The lowest annual increase was in the Edirne, Kırklareli and Tekirdağ region, at 17.3%.
What the August Figures Show
The latest data show a continuing gap between nominal and real housing price increases in Turkey.
While house prices rose by 23% over the past year in nominal terms, they declined by 6.5% after adjusting for inflation. The same pattern can be seen in rents, with the annual nominal increase of 26.4% turning into a real decline of 3.9%.
For Edirne and the surrounding region, the annual increases were among the lowest recorded in Turkey, both for house prices and new-tenant rents.
