The Residential Property Price Index (RPPI) recorded an annual decrease of 2.3 percent in real terms in January, the Central Bank announced on Feb. 17.
Despite this decline, the RPPI rose by 3.7 percent on a monthly basis and showed a 27.7 percent annual increase in nominal terms.
Housing prices in Türkiye’s three largest cities registered monthly gains. In January, prices rose by 3.1 percent in Istanbul, 3.5 percent in Ankara and 3.7 percent in İzmir. Annual changes were 28.7 percent in Istanbul, 31.7 percent in Ankara and 29 percent in İzmir.
The New Tenant Rent Index (NTRI) also showed strong growth. In January 2026, rents increased by 3.5 percent month-on-month, with an annual rise of 34.2 percent in nominal terms and 2.7 percent in real terms.
Istanbul recorded a 3.9 percent monthly increase, Ankara 3.5 percent and İzmir 4.7 percent. Annual rent growth reached 38.1 percent in Istanbul, 36.9 percent in Ankara and 38.5 percent in İzmir.
