Housing prices rose, real decline continued

The Central Bank of the Republic of Türkiye (CBRT) has published the Residential Property Price Index (RPPI) data for February 2026. According to the released data, while the increase in housing prices continued, a decline was recorded on an inflation-adjusted basis.

MONTHLY RISE, REAL DECLINE ON AN ANNUAL BASIS

The Residential Property Price Index increased by 1.8 percent in February compared to the previous month, reaching 215.5. When viewed on an annual basis, the index rose by 26.4 percent. However, a real decline of 3.9 percent was observed in the same period.

PRICE MOVEMENTS IN THE THREE MAJOR CITIES

In February, housing prices in Istanbul increased by 2.2 percent monthly, while they rose by 1.7 percent in Ankara and 1.4 percent in Izmir. Looking at annual changes, an increase of 28.0 percent was recorded in Istanbul, 29.7 percent in Ankara, and 25.8 percent in Izmir.

CENTRAL ANATOLIA TOPS REGIONAL INCREASES

When annual growth rates are examined according to the Nomenclature of Territorial Units for Statistics, the highest increase occurred in the region including Nevşehir, Niğde, Aksaray, Kırıkkale, Kırşehir, Kayseri, Sivas, and Yozgat with 31.0 percent. The lowest increase was observed in the Hatay, Kahramanmaraş, and Osmaniye region with 19.7 percent.

NEW TENANT RENTS ALSO ROSE

The New Tenant Rent Index (NTRI) showed a monthly increase of 1.6 percent in February. On an annual basis, the rent increase was 34.2 percent in nominal terms and 2.0 percent in real terms.

In Istanbul, new tenant rents increased by 2.4 percent monthly, while they rose by 1.8 percent in Ankara and 0.7 percent in Izmir. Annual growth rates were calculated as 41.0 percent in Istanbul, 36.1 percent in Ankara, and 34.1 percent in Izmir.

When regional data is examined, the highest rate in new tenant rent increases was recorded in Istanbul at 41.0 percent, while the lowest rate was recorded in the Hatay, Kahramanmaraş, and Osmaniye region at 20.0 percent.

News Source: İHA