Latest index: August 2026
Has buying a home in Türkiye got dearer, really?
In the 12 months to August 2026, house prices in Türkiye changed +23.0% in lira, while consumer prices changed +31.5%. After inflation that is −6.4%, and +4.9% in dollars. Pick a place and a start month to test your own timing.
- +23.0%In liraAug 2025 – Aug 2026
- −6.4%After inflationAug 2025 – Aug 2026
- +0.9%Last month, liraJul 2026 – Aug 2026
One home, measured five ways
A rise in lira is not a rise in value. Every bar grows from the zero line: one way when prices rose, the other way when they fell. The sum is printed under each bar.
- In lira (nominal)+23.0%
236.76 ÷ 192.44 − 1TCMB house price index, Türkiye (2023=100) - After inflation (real)−6.4%
1.2303 ÷ 1.3151 − 1Divided by the change in consumer prices: +31.5% (TÜİK CPI 102.47 → 134.75) - In dollars+4.9%
1.2303 ÷ 1.1733 − 1Divided by the change in the dollar rate: +17.3% (USD/TRY 41.0473 → 48.1598, end of month) - In euros+4.9%
1.2303 ÷ 1.1726 − 1Divided by the change in the euro rate: +17.3% (EUR/TRY 47.8304 → 56.0853, end of month) - Against rents (price to rent)−2.7%
1.2303 ÷ 1.2640 − 1Divided by the change in new-tenant rents: +26.4% (TCMB rent index 265.94 → 336.16)
The bars share one scale; the edge of each track is ±25%.
House prices and consumer prices are monthly values for August 2025 and August 2026. Dollar and euro use the last selling rate of each of those months. Against rents compares two indices; it is not a rental yield. The index tracks appraised values of an average home, not any single sale.
House, inflation, dollar and rent
All lines start at 100 in your start month. If the house line runs above the inflation line, the home beat prices; below it, prices outran the home.
Türkiye
Index, August 2025 = 100
- House prices+23.0%
- Consumer prices (CPI)+31.5%
- Dollar rate+17.3%
- Rents (new tenants)+26.4%
Which tower is still above water?
Each tower is the price of a home in that place, starting at 100 in your start month. The water is consumer prices: a tower above the water got dearer in real terms, one the water covers got cheaper. The dashed line is the dollar rate.
- +23.0%
- +26.3%
- +24.8%
- +23.3%
- Türkiye−6.4% real
- Istanbul−4.0% real
- Ankara−5.1% real
- Izmir−6.2% real
- Consumer prices +31.5%
- Dollar rate +17.3%
- Start = 100
What is my home worth by the index?
Enter what you paid and when. The page moves your price along the TCMB index of that place to the latest month. It is an index estimate for an average home there, not a valuation of yours.
August 2024: paid ₺3,000,000
Index estimate, August 2026≈ ₺4,850,000
- Gain in lira+61.6% ≈ +₺1,850,000
- Needed to keep up with prices≈ ₺5,250,000
- In dollars$88,200 → $101,000
- In euros€79,200 → €86,400
The index puts your home ₺400,000 below that.
₺3,000,000 × 1.6161, the change of the Türkiye index. Rounded to three significant figures. An average-home estimate: fees, taxes, renovation and your own street are not in it.
How long to save for a home?
Plain arithmetic, then a check against the pace prices have set over the last 12 months.
₺25,000 a month toward ₺3,000,000
Time to save the price10 years
If the last 12 months repeated (Türkiye: +23.0%), the price would rise by ₺691,000 in a year, but you would save only ₺300,000: the gap would widen.
Plain arithmetic: no interest on savings, no loan, a fixed monthly sum. “If the last 12 months repeated” is an assumption, not a forecast.
Every year, every month
Each row runs from December to December, so it shows the change over the whole year. The current year runs up to August 2026, and a first year that starts later says so under its label. Choose a place to see its table.
| Year | Index, end of period | In lira | After inflation | In dollars | In euros | Against rents |
|---|---|---|---|---|---|---|
| 2026 Dec 2025 – Aug 2026 | 236.76 | +15.9% | −5.1% | +3.3% | +4.4% | −2.2% |
| 2025 | 204.36 | +29.0% | −1.5% | +6.0% | −6.1% | −5.2% |
| 2024 | 158.46 | +29.4% | −10.4% | +8.0% | +15.2% | −17.9% |
| 2023 Jan 2023 – Dec 2023 | 122.43 | +65.7% | +7.3% | +5.9% | +3.7% | −15.9% |
| Year | Index, end of period | In lira | After inflation | In dollars | In euros | Against rents |
|---|---|---|---|---|---|---|
| 2026 Dec 2025 – Aug 2026 | 226.60 | +18.7% | −2.8% | +5.8% | +7.0% | −4.1% |
| 2025 | 190.92 | +28.5% | −1.8% | +5.6% | −6.4% | −7.1% |
| 2024 | 148.57 | +26.5% | −12.4% | +5.5% | +12.5% | −18.4% |
| 2023 Jan 2023 – Dec 2023 | 117.48 | +51.7% | −1.8% | −3.1% | −5.1% | −8.9% |
| Year | Index, end of period | In lira | After inflation | In dollars | In euros | Against rents |
|---|---|---|---|---|---|---|
| 2026 Dec 2025 – Aug 2026 | 264.99 | +17.5% | −3.7% | +4.8% | +5.9% | −2.5% |
| 2025 | 225.46 | +34.9% | +3.0% | +10.8% | −1.8% | −3.2% |
| 2024 | 167.19 | +34.5% | −6.8% | +12.3% | +19.7% | −17.7% |
| 2023 Jan 2023 – Dec 2023 | 124.30 | +77.6% | +14.9% | +13.5% | +11.1% | −19.2% |
| Year | Index, end of period | In lira | After inflation | In dollars | In euros | Against rents |
|---|---|---|---|---|---|---|
| 2026 Dec 2025 – Aug 2026 | 229.59 | +15.5% | −5.4% | +2.9% | +4.1% | −2.3% |
| 2025 | 198.84 | +30.5% | −0.3% | +7.3% | −4.9% | −5.4% |
| 2024 | 152.32 | +25.3% | −13.2% | +4.5% | +11.4% | −19.1% |
| 2023 Jan 2023 – Dec 2023 | 121.61 | +65.0% | +6.8% | +5.4% | +3.2% | −15.7% |
The index, month by month
Index values (2023=100) for the four places, and the change of Türkiye on the month before and on the same month a year earlier. Newest month first.
| Month | Türkiye | Istanbul | Ankara | Izmir | Türkiye, on the month | Türkiye, on the year |
|---|---|---|---|---|---|---|
| August 2026 | 236.76 | 226.60 | 264.99 | 229.59 | +0.9% | +23.0% |
| July 2026 | 234.55 | 222.40 | 261.03 | 223.47 | +1.4% | +24.9% |
| June 2026 | 231.34 | 216.62 | 255.69 | 225.16 | +1.9% | +24.4% |
| May 2026 | 226.99 | 212.47 | 252.96 | 218.44 | +1.6% | +24.5% |
| April 2026 | 223.32 | 208.32 | 249.43 | 218.58 | +1.7% | +26.6% |
| March 2026 | 219.52 | 205.10 | 243.00 | 214.10 | +1.9% | +26.2% |
| February 2026 | 215.40 | 200.95 | 237.14 | 208.53 | +1.7% | +26.3% |
| January 2026 | 211.73 | 196.70 | 233.30 | 205.92 | +3.6% | +27.6% |
| December 2025 | 204.36 | 190.92 | 225.46 | 198.84 | +0.2% | +29.0% |
| November 2025 | 204.04 | 191.32 | 225.94 | 199.43 | +2.6% | +31.3% |
| October 2025 | 198.87 | 186.87 | 219.37 | 194.95 | +1.6% | +31.6% |
| September 2025 | 195.66 | 182.07 | 217.30 | 191.30 | +1.7% | +32.2% |
| August 2025 | 192.44 | 179.45 | 212.28 | 186.14 | +2.5% | +31.4% |
| July 2025 | 187.78 | 174.17 | 206.37 | 181.93 | +1.0% | +32.9% |
| June 2025 | 185.96 | 173.13 | 203.64 | 183.62 | +2.0% | +32.8% |
| May 2025 | 182.33 | 169.52 | 198.92 | 177.77 | +3.4% | +32.2% |
| April 2025 | 176.41 | 165.17 | 191.96 | 172.47 | +1.5% | +32.9% |
| March 2025 | 173.88 | 160.77 | 186.45 | 172.42 | +2.0% | +32.2% |
| February 2025 | 170.55 | 157.12 | 182.92 | 165.98 | +2.8% | +31.3% |
| January 2025 | 165.88 | 153.01 | 177.15 | 159.77 | +4.7% | +32.0% |
| December 2024 | 158.46 | 148.57 | 167.19 | 152.32 | +2.0% | +29.4% |
| November 2024 | 155.38 | 145.40 | 163.84 | 151.63 | +2.8% | +29.4% |
| October 2024 | 151.08 | 141.15 | 158.50 | 148.98 | +2.1% | +26.8% |
| September 2024 | 148.01 | 139.42 | 153.87 | 142.58 | +1.0% | +27.4% |
| August 2024 | 146.50 | 137.79 | 150.39 | 141.44 | +3.7% | +34.4% |
| July 2024 | 141.33 | 130.43 | 144.22 | 138.75 | +0.9% | +38.7% |
| June 2024 | 140.03 | 130.58 | 143.21 | 139.11 | +1.5% | +46.4% |
| May 2024 | 137.90 | 127.96 | 140.91 | 135.59 | +3.9% | +51.3% |
| April 2024 | 132.70 | 122.87 | 135.10 | 131.98 | +0.9% | +51.6% |
| March 2024 | 131.49 | 123.26 | 134.44 | 130.02 | +1.2% | +55.3% |
| February 2024 | 129.87 | 122.22 | 133.33 | 124.90 | +3.3% | +65.7% |
| January 2024 | 125.71 | 118.07 | 129.41 | 123.25 | +2.7% | +70.2% |
| December 2023 | 122.43 | 117.48 | 124.30 | 121.61 | +2.0% | — |
| November 2023 | 120.07 | 115.16 | 121.52 | 119.78 | +0.7% | — |
| October 2023 | 119.18 | 116.29 | 119.40 | 115.80 | +2.6% | — |
| September 2023 | 116.18 | 112.98 | 117.82 | 115.76 | +6.6% | — |
| August 2023 | 108.97 | 108.24 | 110.90 | 106.85 | +7.0% | — |
| July 2023 | 101.87 | 102.85 | 103.32 | 101.32 | +6.5% | — |
| June 2023 | 95.66 | 95.83 | 97.32 | 97.62 | +5.0% | — |
| May 2023 | 91.12 | 93.76 | 92.39 | 91.63 | +4.1% | — |
| April 2023 | 87.55 | 89.90 | 87.01 | 88.61 | +3.4% | — |
| March 2023 | 84.68 | 88.17 | 81.32 | 86.78 | +8.0% | — |
| February 2023 | 78.40 | 81.89 | 74.71 | 80.52 | +6.1% | — |
| January 2023 | 73.88 | 77.45 | 69.99 | 73.71 | — | — |
Two numbers set by law, not by the index
Most buyers meet these two before they meet the index. They can change by law or decree, so each is shown with the day it was checked against the source text.
Title deed fee
2%from the buyer and from the seller, each
Law no. 492 on Fees charges it on the declared price, but never below the property tax value. The President may change the rate, so ask the land registry office for the current figure before you sign.
Example: a home declared at ₺3,000,000 means ₺60,000 from the buyer and the same from the seller.
Citizenship by property
$400,000at least, for purchases since 13 June 2022
A foreigner who buys property worth at least this amount, or the same value in lira or another currency, can apply for citizenship. The title deed gets a note that bans resale for three years.
At the Central Bank’s selling rate of 49.00 on 30 Sept 2026, that is about ₺19,600,520. In January 2023, at 18.82, the same amount was ₺7,528,600.
Four sums, all shown
Every figure on this page is a ratio of monthly index values. Nothing here is a price in lira per square metre, because the index does not carry one.
The four sums
- In lira = index at the end ÷ index at the start − 1
- After inflation = (1 + change in lira) ÷ (1 + change in consumer prices) − 1
- In dollars or euros = (1 + change in lira) ÷ (1 + change of the exchange rate) − 1
- Against rents = (1 + change in lira) ÷ (1 + change of the rent index) − 1
Worked example Türkiye, August 2025 to August 2026. In lira: 236.76 ÷ 192.44 − 1 = +23.0%. After inflation: 1.2303 ÷ 1.3151 − 1 = −6.4%.
What the index is
The Central Bank’s Housing Price Index (KFE), base 2023=100. It is built from appraisal reports written for home-loan applications at commercial banks, adjusted for the features of each home, and a sale does not have to take place. It comes out monthly, about 15 days after the month ends. In August 2024 the bank changed its method and recomputed the series from January 2010. This page uses the series as the data platform serves it, from January 2023.
After inflation
Consumer prices are TÜİK’s consumer price index (base 2025=100). Taking the lira change and removing general price growth between the same two months shows whether the home gained or lost against everything else you buy. Below zero means prices outran the home.
Dollars and euros
Each month uses the Central Bank’s selling rate on its last day with a quote. The series follows the bank’s own dating, where the rate listed for a day is the one announced on the business day before. A dollar figure is a lira price converted at those two rates, not a price quoted in dollars.
Against rents
The house index is divided by the Central Bank’s new tenant rent index (base 2023=100), which follows advertised rents for tenants moving in. The result shows whether buying got dearer or cheaper compared with renting. It is a trend, not a rental yield: a yield needs the lira price and the lira rent of a home, and the indices carry neither.
What it cannot tell you
It is an average of appraised values, not a price for your street, your floor or your view. It carries no lira-per-square-metre level, so it cannot tell you what a home costs. The home value tracker is an index estimate, not a valuation. Past change does not predict the next.
Take the whole table with you
Every month from January 2023 to August 2026: the four house price indices, consumer prices, month-end dollar and euro rates and the four rent indices. Free to use with credit.
Columns: month, the house price index of Türkiye, Istanbul, Ankara and Izmir (2023=100), the consumer price index (2025=100), the dollar and euro selling rates at the end of the month, and the new tenant rent index of the four places (2023=100). A blank cell means no value for that month.
CC BY 4.0: free to use, also commercially, with credit and a link to turkpidya.com. Data: the Central Bank’s housing price index and new tenant rent index, TÜİK’s consumer price index and the Central Bank’s exchange rates.
Questions about Turkish house prices
Have house prices in Turkey gone up?
In the 12 months to August 2026, the Central Bank’s index changed +23.0% in lira. Consumer prices changed +31.5%, so after inflation the change is −6.4%. In dollars it is +4.9%.
How do you work out the real change in house prices?
Divide one plus the change in lira by one plus the change in consumer prices, then take one away. Türkiye, August 2025 to August 2026. In lira: 236.76 ÷ 192.44 − 1 = +23.0%. After inflation: 1.2303 ÷ 1.3151 − 1 = −6.4%. Dollars and euros work the same way, with the exchange rate in place of consumer prices.
Have Turkish house prices risen in dollars or euros?
In the 12 months to August 2026, the value of a home changed +4.9% in dollars and +4.9% in euros. Over the same months the dollar rate against the lira changed +17.3% and the euro rate +17.3%. A foreign buyer sees the lira price change and the exchange rate together.
Is buying getting dearer than renting in Turkey?
In the 12 months to August 2026, house prices changed +23.0% and rents for new tenants +26.4%. Against rents, buying changed −2.7%. Above zero means buying got dearer than renting. It is a trend between two indices, not a rental yield.
Where have prices risen most: Istanbul, Ankara or Izmir?
In the 12 months to August 2026, in lira and after inflation: Türkiye +23.0% (real −6.4%); Istanbul +26.3% (real −4.0%); Ankara +24.8% (real −5.1%); Izmir +23.3% (real −6.2%).
What does the house price index measure?
The Central Bank’s Housing Price Index (base 2023=100) tracks the appraised value of homes, adjusted for their features, from the reports written for home-loan applications. A sale does not have to take place. It is a monthly average for Türkiye and three big regions, not a price for one street or one flat. This page uses it from January 2023.
How much is the title deed fee when you buy a home in Turkey?
It is 2% of the declared price, paid by the buyer and by the seller, each, and never calculated below the property tax value. On ₺3,000,000 that is ₺60,000 from each side. Checked on 1 October 2026 against Law no. 492; ask the land registry office for the current rate before you sign.
How much must a foreigner spend on a home to get Turkish citizenship?
At least $400,000 for purchases since 13 June 2022, or the same value in lira or another currency. At the Central Bank’s selling rate of 49.00 on 30 Sept 2026, that is about ₺19,600,520. The title deed gets a three-year note against resale. Checked on 1 October 2026 on the Your Key Türkiye page.
How often is the house price index updated?
Monthly. The Central Bank publishes it about 15 days after the month ends, and the latest month here is August 2026. The page reads the data again every few hours and the data were last checked on 30 September 2026.
Where the numbers come from
- Central Bank Housing Price Index (KFE)
The index and its tables for Türkiye and the regions, monthly.
- KFE methodology document
How the index is built: data, models, weights and coverage.
- Central Bank press release 2024-44
The August 2024 revision: new method, series recomputed from 2010, monthly data, base 2023.
- Central Bank: the new tenant rent index
Why and how the bank measures the rents that new tenants face.
- TÜİK consumer price index
The TÜİK consumer price index and its monthly bulletin, used to take out inflation.
- Central Bank exchange rates
Daily selling rates for the dollar and the euro.
- Central Bank EVDS
The bank’s electronic data delivery system, where all of these series are published.
- Law no. 492 on Fees
Tariff (4), item 20 (a): the title deed fee, from the buyer and the seller.
- Your Key Türkiye: citizenship by property
The Your Key Türkiye page on the minimum amount and the three-year resale note.