Demand for homes for sale drops, demand for rentals rises

The "Housing for Sale and Rent Market Outlook: June 2025" report, prepared by the Bahçeşehir University Center for Economic and Social Research (Betam) and sahibindex, reveals significant changes in the housing market. According to the report, inflation-adjusted real housing sales prices across Turkey declined by 6.2 percent on an annual basis. While this decline was recorded at 6.4 percent in Istanbul and 3.1 percent in Izmir, an increase of 1.5 percent was observed in Ankara.

In May, current prices for homes for sale across Turkey showed an annual increase of 27.1 percent. Average square meter prices were determined to be 50 thousand TL in Istanbul, 29 thousand 303 TL in Ankara, and 43 thousand 333 TL in Izmir. However, despite rising in April, the housing demand index fell by 11.3 percent in May, dropping to the 152.5 level. It was noted that the holiday break was a factor in this decline.

DEMAND FOR RENTAL HOUSING IS INCREASING

A different picture emerges in the rental housing market. In May, the real rent index increased by 2.6 percent compared to the previous month, reaching 178.9. Real rental prices increased by 3.9 percent in Istanbul, 1.8 percent in Ankara, and 3.3 percent in Izmir. Average rental housing listing prices per square meter were announced as 225.5 TL across Turkey, while they were 300 TL in Istanbul, 224.1 TL in Ankara, and 264.8 TL in Izmir.

The rental housing demand indicator showed a 9.6 percent increase compared to April. However, it remained 1.2 percent lower compared to May 2024. The report stated that this increase in demand for rental housing was due to seasonal effects.

News Source: 12punto