Istanbul real estate market — prices, rental yield and trend
- Average price: $3,161 / m²
- Gross rental yield: 8.17%
- 12-month price change (USD): 7.3%
- Price basis: local-market average
Residential property in Istanbul averages $3,161 per square metre, +7.3% in dollar terms over the last twelve months. That makes it the 36th most expensive of the 70 markets in the set. In local currency the same twelve months read +25.3%; the 18-point gap is the exchange rate, not the housing market.
What a buyer pays in Istanbul
The $3,161 figure is a local-market average across all residential property types: a flat in a prime district sits well above it, an older unit on the edge of the market well below. Against the Turkey national average of $1,755, Istanbul carries a 80.1% premium — the gap between this market and the country as a whole. Among the other Turkey markets we track, Antalya at $1,170 is 170.2% cheaper.
What it earns
Long-term letting returns about 8.2% gross on the purchase price, 6th of 69 markets by gross yield. Short-term letting is a different business with different costs, but for reference the short-let yield here works out at about 9.3%, on an average daily rate of $68 and 59% occupancy.
How this figure is built
The price figure for Istanbul comes from the source we judge most reliable for this market. It was last refreshed on 2026-07-23. We rate our confidence in this market’s data high: the underlying series is official and current. We recompute every market the same way, which is what lets Istanbul be compared with a country average or another city.
Sources: TCMB RPPI · tcmb.gov.tr · globalpropertyguide.com · airbtics.com. Snapshot: 2026-07-23.
Latest Istanbul market analysis
- Istanbul opens applications for 1,071 state rental flats from 10,000 lira a month — 2026-09-14
- Turkey Holds Policy Rate at 37% for a Fifth Meeting as Real House Prices Keep Falling — 2026-09-11
- Turkish Builders Filed for 9.5% Fewer Homes in Q2 While Completions Accelerated — 2026-08-21
- Turkish Home Prices Rose 25% in a Year but Lost 5.1% in Real Terms — 2026-08-19
- Turkish Home Sales Fell 17% in July While Mortgage-Backed Purchases Jumped 24% — 2026-08-14
- Turkey Property Taxes and Buying Costs for Foreign Buyers (2026) — 2026-08-03
- Turkey Property Market: Prices, Yields and the Lira Gap in 2026 — 2026-07-03
- Turkey's Property Market in 2026: The Nominal Illusion Behind the Numbers — 2026-07-03
- Turkey: Foreign Property Ownership and the Buying Process, Gate by Gate — 2026-07-03