Commercial Real Estate Investments Offered No Real Return in the First Quarter of 2026
According to Central Bank data, commercial real estate prices did not offer real returns against inflation in the first quarter of the year, while the highest annual increase was recorded in Ankara.
According to data announced by the Central Bank of the Republic of Turkey, commercial real estates did not offer investors a real gain in the first quarter of 2026. Although the index showed a nominal increase on an annual basis, no real change occurred.
Price Developments According to CBRT Data
The Commercial Real Estate Price Index across Turkey recorded an increase of 7.7 percent in the first quarter of 2026 compared to the previous quarter.
Annual Nominal and Real Changes
While the index showed a nominal increase of 31 percent compared to the same quarter of the previous year, it showed no real change when adjusted for the effects of inflation.
Situation in the Shop and Office Market
Across Turkey, the shop price index experienced a limited increase of 0.1 percent in real terms, while the office price index recorded a decline of 0.5 percent in real terms.
Annual Price Increases in Metropolitan Cities
While the metropolitan city with the fastest increase in commercial real estate prices was Ankara with an annual rate of 36.3 percent, the increase was 29.6 percent in Istanbul and 29.8 percent in Izmir.