The price of an average home in Turkey has climbed to 12.6 times the country’s average annual household income, highlighting a widening gap between property values and earnings.
The figure is based on 2023 data published in UN-Habitat’s World Cities Report 2026. It means that an average-priced home is equivalent to 12.6 years of total household income—not that a family could realistically buy a property after saving for that exact period.
The affordability measure does not account for everyday expenses, mortgage interest, taxes, down payments or regional differences in housing prices.
Housing affordability deteriorated rapidly after 2020
The pace of the increase is more striking than the current figure alone.
Turkey ’s house price-to-income ratio stood at 5.6 in 2010. It increased to 6.7 in 2015 and 7.8 in 2020 before surging to 12.6 in 2023.
The data show that the cost of an average home relative to household income more than doubled over 13 years. Much of that deterioration occurred after 2020, when housing prices began pulling away more sharply from earnings.
For prospective buyers, the widening gap means saving enough for a deposit has become more difficult, while purchasing a home increasingly depends on access to long-term and affordable financing.
Turkey exceeds the global average
Worldwide, the average house price-to-income ratio rose from 9.3 in 2010 to 11.2 in 2023. Turkey’s figure of 12.6 therefore sits above the global average.
A comparison compiled by Visual Capitalist from UN-Habitat data also places Turkey above several major economies in terms of the number of annual household incomes required to purchase an average home.
The ranking must be interpreted carefully. A higher ratio indicates that housing is more expensive relative to earnings, while a lower ratio suggests stronger affordability.
It would therefore be misleading to describe Turkey’s position as favourable simply because some countries record even higher ratios.
A broader global housing problem
Turkey’s affordability decline forms part of a wider global housing crisis.
UN-Habitat estimates that nearly 3 billion people are affected by excessive housing costs, inadequate living conditions, housing shortages or limited access to essential services.
The global housing deficit expanded from 251 million homes in 2010 to 288 million in 2023. Around 44 percent of tenants worldwide also spend more than 30 percent of their income on housing.
Turkey’s figures reveal how quickly housing can become detached from household purchasing power. Although the 12.6 ratio does not measure the exact time needed to buy a home, it provides a clear indication of how much more difficult ownership has become.
The central trend is unmistakable: since 2020, housing prices in Turkey have risen far faster than the incomes available to pay for them.