Turkey rental market statistics (2026) — rent and house price indices from central bank data
This page collects what official Turkish indices say about rents and house prices, in one place. Every figure comes from the Central Bank of the Republic of Türkiye (CBRT) House Price Index and New Tenant Rent Index bulletin for July 2026. Calculated ratios are marked separately.
Last updated: 19 August 2026 · Data period: July 2026 · Source: CBRT
Summary: July 2026 in ten numbers
Unless noted otherwise, every figure comes from the CBRT’s July 2026 bulletin.
- Turkey’s new tenant rent index rose 28.4% year on year in July 2026.
- Over the same period the house price index rose 25.0%.
- Adjusted for inflation, rents fell 2.6% in real terms; house prices fell 5.1%.
- On a 2023 = 100 base, the rent index stands at 328.5 and the house price index at 234.8.
- That means rents have risen 228.5% since 2023 while house prices rose 134.8% — rent growth is about 1.7 times price growth. (Sofft calculation, from CBRT index levels)
- Istanbul rents rose 32.4% year on year, the highest of the three largest cities.
- Ankara has Turkey’s highest rent index level at 359.9.
- Izmir rents fell 1.8% month on month — the only decline among the three largest cities.
- The steepest regional rent increase was 35.0% in the Artvin–Giresun–Gümüşhane–Ordu–Rize–Trabzon region.
- The mildest was 18.8% in the Balıkesir–Çanakkale region.
New tenant rent index: national and three largest cities
The new tenant rent index measures prices in newly signed leases. In a market where existing contracts renew under a legal cap, this is the only indicator that shows the actual market rent.
| Index (2023=100) | Year on year | Month on month | |
|---|---|---|---|
| Turkey | 328.5 | 28.4% | 1.9% |
| Istanbul | 309.4 | 32.4% | 1.7% |
| Ankara | 359.9 | 28.6% | 2.2% |
| Izmir | 317.7 | 26.3% | −1.8% |
Source: CBRT, July 2026
Two rows stand out. Ankara leads clearly on index level: rents there have risen 259.9% since 2023. Izmir is the only major city falling month on month — one month is not a trend, but it is the first divergence among the three largest cities.
House price index: same period, slower pace
| Index (2023=100) | Year on year | Month on month | |
|---|---|---|---|
| Turkey | 234.8 | 25.0% | 1.5% |
| Istanbul | 222.5 | 27.7% | 2.7% |
| Ankara | 261.3 | 26.6% | 2.2% |
| Izmir | 224.0 | 23.1% | −0.5% |
Source: CBRT, July 2026
The gap: how much faster rents rose
Both indices share the same base year (2023 = 100), so they compare directly. The CBRT bulletin publishes them side by side but does not compute the ratio; the table below is specific to this page.
| Rent growth (since 2023) | Price growth (since 2023) | Gap | |
|---|---|---|---|
| Turkey | 228.5% | 134.8% | 1.7× |
| Istanbul | 209.4% | 122.5% | 1.7× |
| Ankara | 259.9% | 161.3% | 1.6× |
| Izmir | 217.7% | 124.0% | 1.8× |
Calculation: Sofft · Source data: CBRT index levels, July 2026
All four rows point the same way: rents are rising structurally faster than house prices. For a landlord that has one plain consequence — rental yield is climbing, so the time a property takes to pay for itself is shortening. The method for running that calculation on your own property is in is buying to rent worth it.
Real change: what happened against inflation
Nominal growth alone misleads. The CBRT also publishes both indices adjusted by consumer inflation:
- Rents fell 2.6% in real terms
- House prices fell 5.1% in real terms
Both trailed inflation, but rents gave back only half as much as prices. As an inflation hedge, rental income held up better than property value.
Regional table: highest and lowest
Top three regions for rent growth: Artvin–Giresun–Gümüşhane–Ordu–Rize–Trabzon (35.0%) · Istanbul (32.4%) · Bingöl–Elazığ–Malatya–Tunceli–Van–Bitlis–Hakkâri–Muş (30.5%).
Bottom three: Balıkesir–Çanakkale (18.8%) · Konya–Karaman (20.9%) · Edirne–Kırklareli–Tekirdağ (22.6%).
Top three regions for house price growth: Bingöl–Elazığ–Malatya–Tunceli–Van–Bitlis–Hakkâri–Muş (35.5%) · Artvin–Giresun–Gümüşhane–Ordu–Rize–Trabzon (30.0%) · Istanbul (27.7%).
Source: CBRT, July 2026
The comparison reveals something: the region ranked first on rents is second on prices, and the region first on prices is third on rents. In the east and along the Black Sea both indicators climb together; western Marmara and parts of central Anatolia sit at the bottom of both rankings.
Reading the index correctly: three common errors
Confusing index level with growth rate. Ankara’s rent index of 359.9 does not mean rents rose 359.9% in a year. It is a level against 2023 = 100; rents in Ankara are roughly three and a half times their 2023 value. The annual figure sits in its own column at 28.6%.
Reading a trend into one month. Izmir’s 1.8% monthly drop is notable but it is a single data point; seasonality, sample and contract timing all move monthly figures. A trend needs at least three months, and because this page updates monthly, that series will accumulate here.
Treating nominal growth as money in hand. When rent rises 28.4%, everything else got more expensive too. That is exactly what the real line is for: rents fell 2.6% in real terms, so last year’s rent buys slightly less this year. The right question for a landlord is not “how much did rent rise” but “did rent rise faster than my costs” — service charges, insurance, maintenance and tax each carry their own increase.
What makes this table personal
The rates here are national averages and describe no individual property. Your own number comes only from your own record: with rent history, renewal dates and vacant days written down, the question “are my flats above or below average” takes half an hour on a weekend. For a landlord who keeps no record this table is just news; for one who does, it is a benchmark. The full method is in how to track rent payments, with a free tracker, and when a renewal is due, the renewal plan turns the national rate into a conversation you can actually have.
Method and source
All nominal and real change rates and index levels on this page come from the July 2026 issue of the CBRT House Price Index and New Tenant Rent Index bulletin. The ratios in the gap table were calculated by us from index levels in that same bulletin and do not appear in the source.
Both indices are quality-adjusted: they measure price and rent change for comparable housing, not the average listing price in the market. This page is updated whenever a new CBRT bulletin is published; earlier figures are not deleted but kept below as history.
Frequently asked questions
How does the new tenant rent index differ from the rent component of CPI? The new tenant index covers only newly signed leases, so it shows market rent. The CPI rent component also includes what existing tenants pay, so it rises more slowly because those contracts renew under a legal cap.
Why are rents rising faster than house prices? CBRT data shows the rent index up 228.5% since 2023 against 134.8% for house prices. The consequence of that gap is a rising rental yield relative to purchase value. This page does not speculate on causes; that is the measured outcome.
Is there a legal cap on rent increases in Türkiye? Residential renewals are capped by the twelve-month average of the consumer price index published by the Turkish statistical institute, and it changes every month. The current figure should be taken from that institute’s own release; this page does not fix a rate.
How often is this page updated? The CBRT bulletin is monthly; the page is updated after each new release and the update date appears at the top.