Turkey Puts 383 Public Land Plots in 46 Provinces Up for Auction

Turkey's state housing agency opened a two day auction on 29 September 2026 covering 383 plots across 46 provinces, with a reserve value of 10,358,647,195 lira.

Turkey's state housing agency TOKI began a two day land auction on 29 September 2026 covering 383 plots spread across 46 of the country's provinces. The announcement, dated 28 September 2026, puts the combined area at 1,684,690 square metres and the total reserve value at 10,358,647,195 lira. Bidding runs on 29 and 30 September from 10.30 in the morning, at the Bilkent Hotel in Ankara and at the agency's Istanbul service building, with online bids also accepted.

The terms are the story

The payment structure tells you what the agency is trying to do. Buyers can take a plot with a 25 percent down payment and 48 months to pay the rest, while anyone paying in full up front gets a 15 percent discount. Some parcels are cash only. A four year instalment plan on state land is a meaningful concession in a country where commercial credit is expensive, and the 15 percent cash discount is a direct bid for immediate revenue rather than a receivable stretched over four years.

This is not only housing land

It would be easy to read a 383 plot sale from the housing agency as a residential supply event. The listed permitted uses say otherwise. Alongside residential land the catalogue covers commercial, tourism, education, agriculture, industrial, sports, urban works, unplanned areas, recreation, storage, fuel stations, logistics facilities and land designated for afforestation. A buyer chasing residential development is competing inside a mixed pool, and the headline 1,684,690 square metres is not a measure of how much housing land is coming to market.

Reading it against our own Turkey data

Our Turkey row, refreshed on 28 September 2026, carries a national average asking price of 927.6 US dollars per square metre and a monthly asking rent of 6.05 US dollars per square metre, both from one provider's national listing index for July 2026. From that pair we calculate a gross rental yield of 7.83 percent, among the highest of the markets we track. Our annual price change is 25 percent in lira but 5.8 percent once converted to dollars, which is the whole Turkish story in two numbers: nominal growth that looks spectacular and largely disappears against the currency. Our bubble risk score for Turkey is 60, at the lower edge of the elevated band.

Those figures cannot be set against the auction totals, and the reason matters. The agency is publishing reserve prices for raw land of many permitted uses. Our figure is an asking price per square metre of built residential floor space. Land and finished housing are separate markets with separate price levels, and dividing one total by the other area would produce a number that describes nothing.

For a non-resident buyer

Foreign nationals can own Turkish property outright, subject to a reciprocity test and a military zone check that can block a specific parcel rather than a buyer. Rental income in our standardised non-resident case is taxed at an effective 18.39 percent, helped by a residential letting exemption and a 15 percent flat expense deduction, though that exemption disappears entirely once gross rent passes a threshold set in lira and therefore moves with the exchange rate. Round-trip transaction costs run to roughly 8.7 percent.

Sources: TOKI, Housing Development Administration of Turkiye, TOKI'den 46 Ilde Arsa Satisi Yarin Basliyor, 28 September 2026 https://www.toki.gov.tr/haber/tokiden-46-ilde-arsa-satisi-yarin-basliyor; TOKI, dated news listing https://www.toki.gov.tr/haberler

Market data: Istanbul · Antalya (province) · Turkey · Izmir (province)