Finding a home for less than 3 million lira (about $60,000) has become difficult in most of Türkiye, according to an analysis of classified property listings that circulated widely on social media this week and was reported by real estate news site Emlakkulisi.
The analysis, shared on X by the account İnşaat Doktoru, said only five of Türkiye’s 81 provinces still have average asking prices below 3 million lira: Kilis, Hakkari, Kars, Bitlis and Ardahan. All five are in the country’s east and southeast, far from the main economic centres and the coastal regions popular with foreign buyers.
The same post put the national average asking price close to 5 million lira and Istanbul’s average at 7.4 million lira, Emlakkulisi said.
Asking prices, not sale prices
The figures should be read with caution. They are based on asking prices in online listings rather than completed transactions, and the account did not explain how the averages were calculated, how many listings were used or which period they covered. Emlakkulisi did not cite any official statistics to support them.
Asking prices in Türkiye often sit above the prices at which deals are finally agreed, and they vary widely by home size, age and neighbourhood. Official sale-based indicators, such as the central bank’s house price index, and valuation-based data from firms such as Endeksa can give different results. We reported earlier on valuation data for August and on official September price and rent trends.
Why it matters
The post nonetheless reflects a common complaint among Turkish households: years of high inflation have pushed lira prices of homes far beyond what many local buyers can afford without credit, while mortgage rates remain high. Trade Minister Ömer Bolat said on the same day that house prices had risen by about 23% over the past year, below headline inflation of around 29%, meaning prices have fallen slightly in real terms.
For foreign buyers, a lira price that looks high to local households can still be modest in hard currency. However, foreigners wishing to qualify for a residence permit or citizenship through property must meet minimum values set in dollars, so the cheapest provinces are rarely relevant. Our guides on the residence permit through property and on where to buy property in Türkiye compare the main options.
Foreigners are also barred from buying in some military and security zones, which affects parts of the border provinces, so any purchase should be checked with the land registry office before a deposit is paid.
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Sources
Photo: Bjørn Christian Tørrissen / CC BY-SA 3.0, via Wikimedia Commons
