Ankara has established itself as the epicentre of rising house prices in Turkey, recording an annual increase of 34.9% in December, according to the latest data released by the Turkish Central Bank (TCMB). The Turkish capital thus overtook Istanbul and Izmir, cementing its position as the city with the highest growth in real estate values.
The Central Bank of the Republic of Turkey announced this week the Housing Price Index (in Turkish Konut Fiyat Endeksi or KFE) for December 2025. According to the data, the index increased by 0.2% in December 2025 compared to the previous month. While it rose by 29% in nominal terms compared to the same month of the previous year, it declined by 1.4% in real terms, according to Turkish media reports.
Likewise, December saw a 0.2%, 0.2% and 0.1% drop in Istanbul, Ankara and Izmir, respectively, compared to the previous month. On a year-on-year basis, however, KFE index values showed increases of 28.5% in Istanbul, 34.9% in Ankara and 30.8% in Izmir.
Average house prices in Ankara rose to 41,274 Turkish liras (around €800) per square metre, meaning that a 100 square metre house now costs around 4.1 million liras (€79,300): this is a significant increase from 29,764 liras per square metre in 2024 and 23,466 liras in 2023. Experts stress that the sharp rise in Ankara is partly related to the migration following the February 2023 earthquakes, which boosted demand for housing in the capital.
Antalya and the Aegean provinces, the most expensive for home buying
In Istanbul, house prices reached 74,153 liras (€1,435) per square metre, while Izmir recorded average prices of 49,584 liras (€960) per square metre. However, on a national level, Muğla – on the Aegean coast – remains the most expensive province, with an average price of 76,698 liras (€1,485) per square metre, with other provinces such as Antalya, Çanakkale or Aydın also among those with the highest prices in the country.
Nationally, house prices grew by an average of 29% in December compared to the same month last year, although after adjusting for inflation, they fell by 1.4% in real terms. The average price per square metre in Turkey reached 45,457 liras (€880), bringing the cost of a typical 100 square metre house to around 4.5 million liras (€87,140).
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Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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