Real Prices Declining, Nominal Prices Rising, Demand Slowing
The latest housing market report by BETAM (Bahçeşehir University Center for Economic and Social Research) and sahibinden.com provides valuable insight into the trends shaping Turkey’s real estate market in June 2025.
🔍 Key Highlights:
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📉 Real (inflation-adjusted) housing prices continue to fall year-over-year.
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📈 Nominal (current) prices are still rising, with the national average m² price reaching 36,275 TL.
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🧭 Buyer demand dropped 11.3% month-over-month in May.
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⏱ Listing durations are falling in most major cities, indicating quicker sales.
💸 Real vs. Nominal Price Trends
Although nominal housing prices are increasing, inflation is eroding purchasing power—causing real prices to continue their decline.
Average Listing Prices – May 2025
| City | Avg. Price per m² | YoY Change (Nominal) | YoY Change (Real) |
|---|---|---|---|
| Turkey (Avg.) | 36,275 TL | +27.1% | -6.2% |
| Istanbul | 50,000 TL | +26.7% | -6.4% |
| Ankara | 29,303 TL | +35.9% | +0.4% |
| Izmir | 43,333 TL | +31.3% | -3.1% |
🔺 Diyarbakır leads with a massive +65.7% annual price increase.
🔻 Malatya saw the smallest increase at +18.9%.
🏘️ Demand Is Cooling Off
The demand index, calculated from listing views, messages, calls, and engagement data, fell by 11.3% in May 2025 compared to April.
However, it remains 30.2% higher than the same period last year—suggesting long-term buyer interest remains, though momentum is slowing.
⏳ Faster Property Sales
The average time a property stays listed (before being sold or removed) is a useful indicator of market liquidity.
Listing Durations (May 2025)
| City | Days on Market |
|---|---|
| Turkey Avg. | 57.6 days |
| Istanbul | 56.7 days |
| Ankara | 40.9 days |
| Izmir | 70.9 days |
📉 Istanbul, Ankara, and many other cities saw listings close faster in May.
📈 İzmir was one of the few exceptions, with a slight increase in listing duration.
📍 Market Activity by City
Cities with the highest price growth:
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Diyarbakır: +65.7%
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Erzurum: +51.5%
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Manisa: +45.0%
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Samsun: +38.8%
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Ankara: +35.9%
Cities with the lowest growth:
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Mersin: +24.6%
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Muğla: +22.0%
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Hatay: +21.7%
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Aydın: +21.4%
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Malatya: +18.9%
In most of these cities, price increases remained below the inflation rate.
📌 Conclusion
The Turkish housing market in June 2025 is sending mixed signals:
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📊 Real price growth is negative, despite nominal gains.
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🏷️ Demand is softening, likely due to affordability issues and macroeconomic concerns.
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🏡 Homes are selling faster, particularly in metropolitan areas.
👉 For buyers:
Now might be a good time to negotiate stronger terms as demand slows.
👉 For sellers:
With faster sales and still-rising nominal prices, listing now could be advantageous.
📝 Source:
Bahçeşehir University BETAM & sahibinden.com – June 2025 Housing Market Report
