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Türkiye’s housing price growth decelerated in April, marking the lowest monthly increase since September 2024, according to new data released by the Central Bank of the Republic of Türkiye (CBRT).
The Residential Property Price Index (RPPI), which tracks quality-adjusted residential property prices, rose by 1.5% month-on-month, bringing the index level to 176.4.
On an annual basis, prices increased by 32.9% compared to April 2024. However, when adjusted for inflation, the data reveals a real-term decline of 3.6%—indicating that rising consumer prices continue to erode purchasing power in the housing market.
The slowdown in nominal gains suggests that the rapid appreciation seen in recent years may be giving way to more measured growth amid tighter financial conditions.
Among Türkiye’s three largest cities, Ankara posted the highest increase in housing prices, both on a monthly and yearly basis. In April, prices in the capital rose by 2.8% compared to the previous month, outpacing Istanbul’s 2.7% and Izmir’s marginal 0.2% gain.
Year-on-year data shows a similar trend. Housing prices in Ankara surged by 41.9%, while Istanbul and Izmir recorded annual increases of 34.4% and 30.9%, respectively.
The figures highlight Ankara’s position as the country’s most dynamic urban housing market, buoyed by continued demand and relatively lower base prices.
The slowdown in price growth has coincided with a sharp rebound in sales activity, as house sales across Türkiye increased by 56.6% in April compared to the same month of the previous year, reaching 118,359 units.
This marks one of the highest monthly sales volumes on record, suggesting that the easing pace of price hikes may have helped revive transaction activity.
The provinces with the highest number of house sales were Istanbul with 18,645 units, followed by Ankara with 10,889 and Izmir with 7,014.
The data point to strong regional momentum in Türkiye’s urban centers, where population growth and housing demand continue to drive market activity despite economic headwinds.
Taken together, the latest figures indicate a possible rebalancing in Türkiye’s housing sector. While headline price growth has slowed, record sales suggest that underlying demand remains robust.
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