Turkey’s Housing Market Closes 2025 With Slowing Momentum

As Turkey moves toward the end of 2025, its residential real estate market continues to show steady—yet increasingly uneven—growth patterns. New data from the analytics platform Endeksa reveals that the country’s average price per square meter for apartment units climbed to 35,756 TL in November, compared with 34,741 TL recorded a month earlier. While this confirms that nominal housing values are still trending upward, the broader economic picture paints a more complex story.

Housing Prices Rise, but Inflation Outpaces Growth

According to reporting from Türkiye newspaper, nationwide housing prices expanded 29.37% over the past 12 months. Over the same period, however, official figures from TÜİK show annual inflation moderating to 31.07%. When these two metrics are compared, the conclusion is clear: real housing prices actually slipped by roughly 1.3%.

This subtle decline in inflation-adjusted terms indicates that, while buyers are still paying more in nominal terms, real estate is no longer appreciating at a pace that outpaces broader price increases in the economy. Such a trend often emerges during cooling cycles when demand stabilizes and buyers become more sensitive to affordability constraints.

Despite nominal values maintaining their upward trajectory, analysts highlight that the real (inflation-adjusted) contraction marks a significant shift from the rapid and widespread appreciation observed in previous years.

East and Southeast Lead the League of Price Surges

The distribution of price growth across Turkey remains highly uneven. Endeksa’s November 2025 data show that the largest annual increases occurred primarily in eastern and southeastern provinces, many of which posted gains exceeding 50%.

Below are the top 15 provinces with the sharpest year-on-year increases and their average price per square meter:

• Tunceli: 37,387 TL/m² — 60.55%

• Bingöl: 25,617 TL/m² — 59.39%

• Diyarbakır: 30,843 TL/m² — 51.11%

• Muş: 21,551 TL/m² — 49.84%

• Muğla: 61,009 TL/m² — 47.25%

• Samsun: 32,727 TL/m² — 44.84%

• Batman: 24,234 TL/m² — 44.04%

• Ankara: 32,877 TL/m² — 42.01%

• Erzurum: 23,218 TL/m² — 41.79%

• Siirt: 21,431 TL/m² — 41.20%

• Elazığ: 22,204 TL/m² — 41.10%

• Aksaray: 28,941 TL/m² — 40.40%

• Iğdır: 25,806 TL/m² — 39.89%

• Çorum: 25,335 TL/m² — 39.45%

• İstanbul: 55,805 TL/m² — 39.26%

This distribution showcases how Turkey’s real estate landscape is undergoing regional realignment. Provinces that historically saw modest appreciation are now catching up as affordability pressures push investors and residents toward alternative markets.

Major Cities Still Among the Fastest-Growing

Among Turkey’s three most significant metropolitan areas, both Istanbul and Ankara successfully entered the list of the top 15 price-accelerating provinces.

• Istanbul recorded a 39.26% annual rise.

• Ankara surpassed that with 42.01% growth.

Despite already commanding some of the country’s highest property prices, Istanbul and Muğla continue to record aggressive price appreciation. This dynamic suggests that demand in high-value coastal and metropolitan markets remains resilient.

Meanwhile, İzmir experienced a more moderate but still significant 35.94% annual increase.

Blacksea and Central Anatolia Highlight Select Standouts

In the Black Sea region, Samsun emerged as the only city to appear on the nationwide top 15 list—reflecting how localized demand spikes can reshape regional hierarchies.

Within Central Anatolia, Aksaray and Çorum both secured places among the strongest performers, suggesting rising domestic migration and investment interest outside the major capital corridors.

Are Regional Gaps Finally Narrowing?

Real estate experts note a meaningful development: regions that long trailed behind Turkey’s western provinces—especially the east and southeast—are now closing their price gap. For years, these areas exhibited subdued appreciation due to slower investment flows and lower-income levels. However, as affordability challenges intensify in major metropolitan areas, buyers have begun shifting their focus, leading to comparatively sharper year-on-year increases.

This catching-up effect is accompanied by another structural issue: insufficient housing supply. In many provinces, new construction has not kept pace with household formation, pushing prices higher even amid cooling national demand.

As 2025 draws to a close, Turkey’s housing market presents a mosaic of regional contrasts—nominal gains, real declines, and pockets of intense local growth. How these forces balance out in 2026 will largely depend on inflation trends, interest rate policies, and whether supply-side constraints ease or deepen.