Official figures, updated monthly

Istanbul Rent & Yield Index

Appraised rents for new leases in Istanbul rose 34.5% in the year to August 2026 on the central bank's New Tenant Rent Index, a real rise of 2.3% once inflation is taken out. House prices in the city rose 26.3%, a real fall of 4.0%. On the official appraisal figures, Istanbul's gross rental yield works out at 6.1% in Q2 2026 (our calculation). Leases renewing in October 2026 can rise by at most 31.49%.

Data as of . Sources: Central Bank of the Republic of Türkiye (CBRT) and TurkStat (TÜİK). Changes, real changes and the yield are our calculation.

The four monthly figures

Each figure carries its own month. The central bank publishes its indices around the 16th of the following month; TurkStat publishes consumer prices on the 3rd, or the next working day.

New-tenant rents, Istanbul

+34.5%

in the year to August 2026 · +4.9% on the month

The rent appraisers set for a new lease in the valuation reports banks order for mortgages (CBRT New Tenant Rent Index, Istanbul region). After inflation: +2.3%, our calculation. Turkey as a whole: +26.4%.

Rents tenants actually pay, Turkey

+41.3%

in the year to September 2026 · +3.1% on the month

TurkStat's consumer price index for actual rent: the same rented homes followed all year, sitting and new tenants together. It covers Turkey as a whole; TurkStat publishes no Istanbul figure.

The legal renewal cap, October 2026

31.49%

the most a renewing lease can rise, the five-year rule aside

TurkStat's twelve-month average CPI, the ceiling for residential renewals under article 344 of the Code of Obligations. Every month's figure, with sources: rent increase cap by month. Once a lease has run five years, a judge can set a new rent free of the cap, from comparable rents: see the rent determination lawsuit.

House prices, Istanbul

+26.3%

in the year to August 2026 · +1.9% on the month

CBRT Residential Property Price Index, Istanbul region, from the same appraisal reports. After inflation: −4.0%, our calculation. Turkey as a whole: +23.0%.

Gross rental yield, Q2 2026

On the central bank's appraisal figures, a year's gross rent in Istanbul comes to 6.09% of a home's value, or 16.4 years of rent to repay the price. Across Turkey the figure is 5.98% (16.7 years). Both are our calculation: 12 × the median rent per square metre ÷ the median value per square metre.

Gross rental yield from CBRT median unit rents and unit prices, Q2 2026
AreaMedian rent per m², a monthMedian value per m²Gross yieldYears of rent
Istanbul₺442.57₺87,153.406.09%16.4
Turkey₺258.45₺51,849.805.98%16.7

A year earlier, in Q2 2025, the Istanbul figure was 5.80%. Rents per square metre rose 45.0% over the year and values 38.1%, so rents outran prices and the yield rose.

Read this figure with care

  • It is a ratio of two medians, not the yield of any one flat. Homes in the same street can differ by several points.
  • Both medians come from mortgage appraisal reports and are per gross square metre (walls included), so the area basis cancels out of the yield.
  • Yields worked out from advertised rents and asking prices usually come out higher, mostly because of the price side: appraised values tend to sit above asking prices, and the sample leans towards homes that can be mortgaged.
  • CBRT does not state the period of its unit rent. We read it as a monthly rent, the only reading that fits its values: an annual one would mean a yield of about 0.5%.
  • It is gross: before the service charge for empty months, vacancy, repairs, tax and management. Net is lower.

What a yield means for your own flat, and why the net figure is lower, is explained in Istanbul rental yields explained. To run your own rent and price, use the rental yield calculator.

Gross rental yield by quarter, newest first (our calculation from CBRT data)
QuarterIstanbulTurkeyIstanbul, years of rent
Q2 20266.09%5.98%16.4
Q1 20266.12%6.01%16.3
Q4 20255.96%5.93%16.8
Q3 20255.84%5.88%17.1
Q2 20255.80%5.78%17.2
Q1 20255.77%5.73%17.3

Month by month

Change on the same month a year earlier, newest first. Our calculation from the published index levels; a dash means the figure is not out yet.

Year-on-year change in Istanbul and Turkey rents, house prices and consumer prices by month
MonthNew-tenant rents, IstanbulNew-tenant rents, TurkeyRents paid, TurkeyHouse prices, IstanbulHouse prices, Istanbul, after inflationConsumer prices, Turkey
September 2026 — — +41.3% — — +29.7%
August 2026 +34.5% +26.4% +43.1% +26.3% −4.0% +31.5%
July 2026 +32.6% +28.4% +45.3% +27.7% −3.1% +31.8%
June 2026 +33.2% +29.2% +47.9% +25.1% −5.3% +32.1%
May 2026 +36.6% +30.4% +49.8% +25.3% −5.5% +32.6%
April 2026 +36.2% +31.7% +51.2% +26.1% −4.7% +32.4%
March 2026 +39.4% +34.4% +52.5% +27.6% −2.5% +30.9%
February 2026 +40.9% +34.2% +53.9% +27.9% −2.8% +31.5%
January 2026 +38.0% +34.3% +56.6% +28.6% −1.6% +30.7%

Two different rent measures, on purpose. New-tenant rents follow what a new lease costs; rents paid follow every tenancy, including leases still catching up through their yearly increases. When the second runs ahead of the first, sitting tenants' rents are closing the gap with the market.

Where foreigners buy

Foreigners bought 5,716 homes in Istanbul in Jan–Aug 2026, +3.5% on the same months of 2025 (TurkStat). These are purchases, not rents: no official statistic gives rents or yields for individual districts. The ten districts with the most purchases:

Istanbul districts with the most house sales to foreigners, Jan–Aug 2026
DistrictPurchases, Jan–Aug 2026Share of Istanbul
Esenyurt1,13319.8%
Beylikdüzü5269.2%
Bağcılar4618.1%
Başakşehir4477.8%
Küçükçekmece3345.8%
Zeytinburnu2524.4%
Şişli2454.3%
Avcılar2223.9%
Eyüpsultan2153.8%
Kağıthane1943.4%

All 39 districts, buyers by nationality and the foreign share of all sales →

Compiled by: Turc Global Real Estate team · Licence No 3417413 Data as of:

Methodology and sources

Official statistics only. We take no figures from property advertisements and keep no data of our own.

  • New Tenant Rent Index (NTRI), CBRT. A quality-adjusted (hedonic) index of the rents appraisers set for new leases in the valuation reports banks order for mortgage loans. It tracks the market rent of a new lease, not signed contracts, and leans towards homes that can be mortgaged. Monthly, base 2023 = 100, for the Istanbul region (TR10) and Turkey. Latest: August 2026, index 324.94. EVDS codes TP.YKKE.TR10 and TP.YKKE.TR.
  • Residential Property Price Index (RPPI), CBRT. A hedonic index of appraised home values from the same reports. Monthly, base 2023 = 100. Latest: August 2026, Istanbul index 226.60. Codes TP.KFE.TR10 and TP.KFE.TR.
  • Housing unit rents and unit prices, CBRT. The median appraised rent and the median appraised value per gross square metre of the homes valued in each quarter, after extreme values are dropped. Quarterly. Codes TP.BK.ISTANBUL, TP.BIRIMFIYAT.IST, TP.BK.TR and TP.BIRIMFIYAT.TR.
  • Consumer price index, actual rent (COICOP 04110), TurkStat. Rents actually paid, from a fixed set of rented homes followed through the year. Monthly, base 2025 = 100, Turkey only. Latest: September 2026, index 156.04.
  • Consumer price index, all items, TurkStat. Used for the real changes. September 2026: +29.73% on a year earlier.
  • The legal cap, TurkStat. The change in the consumer price index on twelve-month averages, published on the 3rd of each month or the next working day. It applies to leases renewing in that month.

How we calculate

  • Yearly and monthly changes are worked out from the index levels, so they can differ by a tenth of a point from the rounded figures the publishers announce.
  • Real change = (1 + nominal change) ÷ (1 + TurkStat's consumer price change over the same twelve months) − 1.
  • Gross yield = 12 × unit rent ÷ unit price. Years of rent = unit price ÷ (12 × unit rent).
  • The central bank revises past index values, so we download every series again in full each month and date the page.

Scheduled releases

  • : TurkStat: consumer prices for October, including actual rent and the new legal cap.

Sources and terms

Download and cite

Download the data as a CSV file: every series by month or quarter, with index levels, our calculated changes, the yield and the code to find each series at its source. Our compilation is free to reuse with attribution under CC BY 4.0; the underlying figures remain the CBRT's and TurkStat's, under their own terms.

To cite this page: Turc Global Real Estate (2026), Istanbul Rent & Yield Index, tgemlak.com/en/istanbul-rent-index/, data as of 10 October 2026.

Frequently Asked

Questions about Istanbul rents and yields

How fast are rents rising in Istanbul?

Appraised rents for new leases in Istanbul rose 34.5% in the year to August 2026 on the central bank's New Tenant Rent Index, +2.3% after inflation (our calculation). Rents paid by all tenants, which TurkStat measures for Turkey as a whole, rose 41.3% in the year to September 2026.

What is the official gross rental yield in Istanbul?

About 6.1% gross, on the central bank's appraisal figures for Q2 2026: a median rent of ₺442.57 per gross square metre a month against a median value of ₺87,153.40 per gross square metre, or 16.4 years of rent to repay the price (our calculation). It is a city-wide ratio of medians, and individual flats vary widely around it. Why listing-based figures come out higher, and what you net after costs and tax, is in our guide Istanbul rental yields explained.

How much can I raise the rent this year?

For a home lease renewing in October 2026, by at most 31.49%: TurkStat's twelve-month average consumer price index, which article 344 of the Code of Obligations makes the ceiling. Each renewal month has its own figure, and a higher rate in the contract does not override it. Once a lease has run five years, a judge can set a new rent from comparable rents, usually with a discount for the sitting tenant: that is the rent determination lawsuit.

Are Istanbul house prices rising faster than inflation?

No. Istanbul house prices rose 26.3% in the year to August 2026 on the central bank's index, while consumer prices rose 31.5%, a real change of −4.0% (our calculation). New-tenant rents over the same year: +2.3% after inflation.

Where do these figures come from?

Only from official statistics: the Central Bank of the Republic of Türkiye's EVDS data service (new tenant rents, house prices, and the unit rents and unit prices from mortgage appraisal reports) and TurkStat (consumer prices, the legal cap, house sales). We download the full series again each month, because the central bank revises past values, and work out the changes and the yield ourselves.

All questions from owners abroad →