As 2027 approaches, questions are growing about how much housing prices will increase. According to the Central Bank of the Republic of Türkiye’s (CBRT) September 2026 data, housing prices rose by 22.3% year on year but declined in real terms. Data released by the Turkish Statistical Institute (TurkStat) on November 10 indicated a 30.80% annual increase in construction costs. Yaşar Doğan, Founder of Yaşarkent Gayrimenkul, stated that housing price trends in the coming year will be determined not only by costs but also by purchasing power, housing supply and financing conditions.
There is currently no definitive figure for how much housing prices in Türkiye will increase in 2027. The Central Bank of the Republic of Türkiye’s (CBRT) Residential Property Price Index rose by 1.22% month on month and 22.34% year on year in September 2026, while declining by approximately 5.7% in real terms, after adjusting for inflation.
According to the September 2026 Construction Cost Index published by the Turkish Statistical Institute (TurkStat) on November 10, overall construction costs increased by 30.80% year on year, while building construction costs rose by 29.29%.
The differing trends in construction costs and housing sale prices highlight the importance of the supply-demand balance in shaping expectations for 2027.
“Rising Costs Alone Do Not Determine the Rate of Price Increases”
Yaşar Doğan, Founder of Yaşarkent Gayrimenkul, assessed potential housing price movements in 2027:
“Rising construction costs are increasing price pressures in new housing developments. However, a 30% increase in construction costs does not mean that all housing prices will rise by the same percentage. Buyers’ income levels, access to mortgage financing and the number of properties available for sale will also play a decisive role in determining price trends. In 2027, we may see different price movements depending particularly on a property’s location and characteristics.”
“It Would Be Misleading to Predict a Single Rate of Price Increase for 2027”
The CBRT’s October 2026 Survey of Market Participants placed year-end inflation expectations for 2027 at 23.3%. However, this figure is not a forecast of housing price increases.
Doğan emphasized that homebuyers should distinguish between nominal price increases and changes in value adjusted for inflation:
“Housing prices may rise in Turkish lira terms in 2027, but it is impossible to say with certainty today whether those increases will be above or below inflation. A potential decline in interest rates could revive previously postponed demand. On the other hand, persistently weak purchasing power could limit the pace of price increases. For this reason, making a market-wide price increase forecast based on a single percentage would be misleading.”
“Buyers Are Questioning Not Only Prices but Also the Right Time to Purchase”
According to TurkStat, 142,390 residential properties were sold across Türkiye in September 2026, representing a 9.3% decline compared with the same month of the previous year.
First-hand housing sales increased by 3.9%, while second-hand sales declined by 15.3%.
Noting that this divergence in market activity could also be reflected in prices, Doğan continued:
“Those postponing their home purchases until 2027 should not focus solely on potential price changes. They should assess mortgage costs, down payment requirements, the property’s actual market value and their own repayment capacity together. A fairly priced home that meets the buyer’s needs may be a sounder choice than making a purchasing decision based solely on expectations of general price increases.”
