GLOPRAGlobal Property Radar

Turkey real estate market — prices, rental yield and trend

  • Average price: $928 / m²
  • Gross rental yield: 7.83%
  • 12-month price change (USD): 5.8%
  • Net rental yield: 6.39%
  • Transaction cost: 8.7%
  • Bubble-risk band: elevated
  • Price basis: national average

Residential property in Turkey averages $928 per square metre, +5.8% in dollar terms over the last twelve months. That makes it the 82nd most expensive of the 83 markets in the set. In local currency the same twelve months read +25%; the 19.2-point gap is the exchange rate, not the housing market.

What a buyer pays in Turkey

The $928 figure is a national average across all residential property types, which flattens a wide spread — the capital typically runs far above it and small towns far below. Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 8.7% of the price here. On a 100 m² apartment at the average price that is roughly $8,070 on top of the $92,760 purchase price. That is below the 10.2% median across the set, which shortens the time it takes for a purchase to break even. Inside Turkey we also track Istanbul separately, where the average is $1,338 — 44.2% above the national figure.

What it earns

A square metre lets for about $6.1 a month. Against a purchase price of $928 per square metre that is 7.8% gross, before tax. Both figures come from the same source and the same period, so you can check the arithmetic yourself. It ranks 13th of 88 markets by gross yield. Rental income is taxed at 14–22.8% — the rate is not a single number here. That is the difference between 6% and 6.7% net on the same property. The 6.4% net figure we publish uses 18.4%.

How the tax works. Progressive: non-residents also get the residential letting exemption of GVK art. 21 (TRY 58,000 in 2026) and the 15% lump-sum expense deduction of art. 74/3, followed by the art. 103 income-tax scale, which gives 14–23% across typical rent levels. The exemption is lost entirely once gross rent exceeds TRY 1.5 million a year (about USD 2,650 a month), which is why the upper end is higher, and the lira's weakness makes that point exchange-rate sensitive. With a private tenant there is no withholding; the annual return is final. Source: gib.gov.tr.

Where the price sits against its own history

Prices are +114.6% over five years and +56.1% over ten in local terms. Glopra’s bubble-risk score for Turkey is 60 out of 100 — elevated risk. Of the 58 markets scored, 30 read higher. It combines the deviation from trend, price-to-income and the pace of recent growth — a warning light, not a forecast.

Turkey house price index, 2016–2026 (2016 = 100)

YearIndex
2016100
2017110.8
2018119.5
2019125.2
2020155
2021213.2
2022533
20231078.4
20241526.4
20252011.5
20262324.6

Rebased to 100 in 2016, the index stands at 2324.6 in 2026. The series is in local currency, and the twelve-month numbers above show how much of that a dollar buyer actually keeps.

Who can buy in Turkey

Full ownership; reciprocity and military-zone check. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.

How this figure is built

The price figure for Turkey is built from asking prices from listings. It was last refreshed on 2026-09-28. We rate our confidence in this market’s data medium: the series is usable, but thinner or less current than our best-covered markets. We recompute every market the same way; a figure that fails our checks is suppressed, not guessed.

Sources: TCMB RPPI · tcmb.gov.tr · globalpropertyguide.com · numbeo.com. Snapshot: 2026-09-28.

Latest Turkey market analysis

Related markets: Istanbul · Antalya (province) · Izmir (province) · Mersin (province) · Mugla (Bodrum / Fethiye)

See all 123 markets on Glopra →