As we reach the middle of 2026, Türkiye’s housing market presents an interesting picture: prices continue to rise on paper, yet when adjusted for inflation, conditions are increasingly favoring buyers.
According to the Housing Price Index published by the Central Bank of the Republic of Türkiye (TCMB), the index increased by 1.7% month-over-month and 24.5% year-over-year in May 2026. However, in real terms, housing prices declined by 6.1%. In other words, while property prices appear to be increasing, they are not keeping pace with inflation. Even more striking is the consistency of this trend: real housing prices have declined in 27 of the last 28 months. This indicates that residential property has gradually become more affordable in terms of purchasing power.
The previous month showed a similar pattern. In April 2026, the index rose by 1.8% monthly and 26.6% annually in nominal terms, while recording a real decline of 4.3%. Regional differences are also noteworthy. Ankara recorded the highest annual increase in housing prices, while the lowest growth was observed in the Aydın, Denizli, and Muğla region.
Public housing projects are supporting demand
One of the most important developments in the market is the continued expansion of government-backed housing projects. TOKİ launched its lottery-free housing campaign on June 15, 2026, with approximately 20,000 homes expected to be offered across 64 provinces throughout the year. Prices range from TRY 2.1 million to TRY 5.4 million, while monthly installments start at around TRY 18,000. A significant advantage of the program is that there is no residency requirement and no obligation to live in the purchased property.
Emlak Konut GYO has also increased its activity, introducing 24 projects targeted at first-time homebuyers. In Arnavutköy, two-bedroom apartments start from TRY 8.4 million, while three-bedroom units begin at TRY 10.9 million. These figures highlight the affordability challenges that remain even for middle-income buyers.
What does this mean for investors?
The decline in real housing prices creates an attractive entry opportunity for buyers with available capital or access to financing. High interest rates continue to suppress mortgage demand, providing greater room for negotiation between buyers and sellers. Industry professionals generally expect that once interest rate cuts become more evident, pent-up demand will begin returning to the market.
In summary, 2026 may be viewed less as a year of rapidly rising property prices and more as a period in which buyers hold a stronger position and can be more selective. Location, project quality, and delivery timelines have become more important decision-making factors than the price tag alone.
At Grand Emlak, we continue to connect our clients with exceptional residential and investment opportunities in Antalya’s most valuable locations. Contact our expert team to discover the properties that best match your budget and investment goals.
