Turkey real estate market
and economy
DDA Real Estate Turkey analytical report for September 2026
Key takeaways of the month
- Market. 1,092,919 apartments and houses were sold in 9 months, 7.2% fewer than last year. Resale is falling (-10%), new builds are almost at the 2025 level.
- Foreigners. 2,167 purchases in September: +9.9% year on year and the best month of 2026. Russians are first (388), followed by Iraq and Germany.
- Prices. In US dollars, property has grown in value over the year. A client who bought in dollars is in profit today.
- Competitors. DDA Real Estate Turkey closed 89 deals in 9 months, twice as many as last year. Of all our destinations, Turkey is the only one where an apartment gives both income and citizenship for $400,000.
Source: TÜİK (home sales, September 2026, published 16.10.2026), Central Bank of Turkey (KFE price index for September and exchange rate), Endeksa/Emlakjet.
Home sales in Turkey: September 2026
| Indicator | September 2026 | August 2026 | MoM | September 2025* | YoY |
|---|---|---|---|---|---|
| Total deals | 142,390 | 127,410 | +11.8% | 156,918 | -9.3% |
| New builds | 51,519 | 44,378 | +16.1% | 49,608 | +3.9% |
| Resale | 90,871 | 83,032 | +9.4% | 107,310 | -15.3% |
| With mortgage | 23,397 | 22,131 | +5.7% | 22,264 | +5.1% |
| To foreigners | 2,167 | 1,938 | +11.8% | ≈1,972 | +9.9% |
* September 2025 based on revised TÜİK data. Foreigners (≈) recalculated from the YoY percentage given by TÜİK; the rest is from the bulletin table.
Source: TÜİK: home sales bulletin for September 2026 (16.10.2026, via AA and BYZHA); August 2026: TÜİK Veri Portalı.
January-September 2026 vs 2025
| Segment | Jan-Sep 2026 | Jan-Sep 2025* | Change |
|---|---|---|---|
| Total | 1,092,919 | 1,177,125 | -7.2% |
| New builds | 359,913 | 362,242 | -0.6% |
| Resale | 733,006 | 814,883 | -10.0% |
| With mortgage | 212,210 | 170,209 | +24.7% |
| To foreigners | 15,308 | ≈15,992 | -4.3% |
* 2025 after the TÜİK revision. Foreigners (≈) recalculated from the TÜİK percentage; the rest is from the bulletin table.
Source: TÜİK, home sales bulletin for September 2026 (16.10.2026), January-September 2026 and 2025 table (via BYZHA, AA).
Sales by month: 2026 vs 2025
Source: TÜİK, home sales by month 2025-2026 (January-August: Veri Portalı; September: bulletin of 16.10.2026).
Sales to foreigners and who is buying
Top 10 countries, Jan-Sep 2026
| # | Country | Jan-Sep 26 | Sep 26 |
|---|---|---|---|
| 1 | Russia | 2,676 | 388 |
| 2 | Iraq | 967 | 166 |
| 3 | Germany | 899 | 162 |
| 4 | Ukraine | ||
| 5 | Iran | ||
| 6 | China | ||
| 7 | Azerbaijan | ||
| 8 | United Kingdom | ||
| 9 | Palestine | ||
| 10 | Afghanistan |
Russia is first: 2,676 homes in 9 months, 388 in September. Iraq (967) and Germany (899) moved up to 2nd and 3rd place in September. China is growing the fastest.
Source: TÜİK: sales to foreigners by nationality, January-September 2026 (bulletin of 16.10.2026, AA, Yeni Ankara; Veri Portalı).
DDA Real Estate Turkey grows while the foreign market falls
| January-September | 2025 | 2026 | Growth |
|---|---|---|---|
| Antalya & Alanya | 26 | 53 | +103.8% |
| Istanbul | 11 | 30 | +172.7% |
| Mersin & Bodrum | 6 | 6 | 0.0% |
| Total DDA Real Estate Turkey | 43 | 89 | +107.0% |
Look: the foreign market is down 4.3% in 9 months, while DDA Real Estate Turkey sold twice as much. * October up to the 19th: already 10 deals. We are not growing with the market, we are taking share from competitors.
Source: DDA Real Estate Turkey contract register (excluding cancelled deals and consulting); TÜİK: January-September 15,308 vs ≈15,992 in 2025.
DDA Real Estate Turkey vs competitors, January-September 2026
| Indicator | Istanbul | Antalya | Two cities |
|---|---|---|---|
| All licensed agencies | 20,761 | 8,361 | 29,122 |
| Actively work with foreigners (estimate) | 500-600 | 300-500 | 800-1,100 |
| Foreign deals, January-September (TÜİK)* | ≈6,659 | ≈4,693 | ≈11,352 |
| Average agency, deals per month | 1.23-1.48 (≈1.35) | 1.04-1.74 (≈1.30) | ≈1.33 |
| DDA Real Estate Turkey, deals per month | 3.3 | 5.9 | 9.2 |
| DDA Real Estate Turkey is more effective by | ≈2.5x (2.3-2.7) | ≈4.5x (3.4-5.6) | ≈6.9x |
| September: average agency / DDA Real Estate Turkey | ≈1.71 / 3 | ≈1.66 / 8 | ≈1.69 / 11 |
| September: DDA Real Estate Turkey is more effective by | ≈1.7x (1.6-1.9) | ≈4.8x (3.6-6.0) | ≈6.5x |
Look: an agency that actively works with foreigners closes 1.3 deals a month on average. DDA Real Estate Turkey closes 9.2, so over 9 months we work like 6.9 such agencies, and in September like 6.5. * TÜİK has so far published September by city only in its own database: I took 2,167 purchases across Turkey and split them by the cities' January-August shares (Istanbul ≈943, Antalya ≈664). I will replace them with exact figures once published.
Source: Agencies: DDA Real Estate Turkey data (licences; estimate of those that advertise constantly and close deals with foreigners); market deals: TÜİK (January-August by province, September: estimate from 2,167 across Turkey); DDA Real Estate Turkey: contract register. Ranges in brackets reflect the estimate.