Housing prices reach highest level in the last year
Across Turkey, housing prices hit a new peak in January 2026 with a 3.7 percent increase. While noticeable rises were observed in price and rent indices in the three major cities, differences in certain regions drew attention.
12punto
The housing market in Turkey experienced an active period in the first month of the new year. As of January 2026, the quality-adjusted Housing Price Index (HPI) rose by 3.7 percent compared to December 2025, reaching 211.8 points. This figure was recorded as the highest level seen since January 2025.
The Housing Price Index achieved a nominal value gain of 27.7 percent compared to the same period last year. However, when viewed in real terms—that is, adjusted for inflation—there was a decline of 2.3 percent.
Increases in housing prices continued in the three major provinces of Istanbul, Ankara, and Izmir. Prices rose by 3.1 percent in Istanbul, 3.5 percent in Ankara, and 3.7 percent in Izmir on a monthly basis. Annually, increases of 28.7 percent in Istanbul, 31.7 percent in Ankara, and 29 percent in Izmir were observed, respectively.
Looking at the regional basis, housing prices in the region covering the provinces of Bingöl, Elazığ, Malatya, Tunceli, Van, Bitlis, Hakkâri, and Muş led the way with an annual increase of 34.2 percent. In Edirne, Kırklareli, and Tekirdağ, the annual increase remained below the national average, recorded at 18.2 percent.
The New Tenant Rent Index (NTRI) also showed a 3.5 percent increase in January compared to the previous month. An annual increase of 34.2 percent in nominal terms and 2.7 percent in real terms was determined.
While Istanbul, Ankara, and Izmir again led in rents, the rent index for new tenants in January rose by 3.9 percent in Istanbul, 3.5 percent in Ankara, and 4.7 percent in Izmir. The annual rent increase rates in these three major cities were 38.1 percent in Istanbul, 36.9 percent in Ankara, and 38.5 percent in Izmir.
Regionally, Izmir was the city where the rent index for new tenants increased the most. While a 38.5 percent rise was observed in Izmir on an annual basis, this rate remained limited to 19.5 percent in the Hatay, Kahramanmaraş, and Osmaniye region.