Real decline deepens in the housing market, with İzmir taking the first place

The Center for Economic and Social Research (BETAM) at Bahçeşehir University has published its October 2026 housing market outlook reports, prepared in cooperation with Sahibindex. According to the report, while the downward trend in real for-sale housing prices continued across Turkey, İzmir became the metropolitan city where the highest decline was observed with a rate of 9.3 percent.

According to BETAM data, compared to the same month of the previous year, real for-sale housing prices decreased by 7.8 percent across Turkey, while this rate was 4 percent in Istanbul and 2.5 percent in Ankara. In contrast, nominal prices for for-sale housing increased by 19.6 percent nationwide on an annual basis. The annual nominal price increase was 24.6 percent in Istanbul, 26.5 percent in Ankara, and 17.7 percent in İzmir. While the average advertised square meter price for for-sale housing across Turkey was calculated as 46,681 TL, this amount was recorded as 67,949 TL in Istanbul, 40,417 TL in Ankara, and 54,310 TL in İzmir. The housing demand index decreased by 6.4 percent in September 2026 compared to the previous month, and the age of closed listings was measured at 57.6 days nationwide.

In the rental housing market, real rents recorded a decline across Turkey and in the three major metropolitan cities compared to the previous month. On an annual basis, real rental prices decreased by 5.7 percent nationwide, 7.1 percent in Ankara, and 9.5 percent in İzmir, while increasing by 6.4 percent in Istanbul. Nominal rental prices rose by 22.4 percent annually across Turkey. The average advertised square meter price for rental housing was 295.1 TL nationwide, while it was recorded at 460 TL in Istanbul, 294.7 TL in Ankara, and 328.6 TL in İzmir.