1. Price trend, 2021 to 2026
The average price per m² in Zekeriyaköy rose from 45,000 TL in 2021 to 161,000-187,000 TL by August 2026 — nominal growth of roughly 287% over five years. Adjusted for inflation, that represents meaningful real growth of 35-45%.
| Year | Price per m² (TL) | YoY | Real change* |
|---|---|---|---|
| 2021 | 45,000 TL | +18% | +1% |
| 2022 | 78,000 TL | +73% | -3% |
| 2023 | 125,000 TL | +60% | +5% |
| 2024 | 175,000 TL | +40% | +8% |
| 2025 | 210,000 TL | +20% | +5% |
| 2026 | 161,371–186,804 TL | — | +3% |
* Adjusted for consumer price inflation. Calculation: nominal growth minus CPI.
2. Sub-district analysis
Average price per m² by area, 2026:
- Zekeriyaköy: 161,371–186,804 TL/m²
- Uskumruköy: 136,283–187,611 TL/m²
- Demirciköy: 100,751–126,303 TL/m²
- Kilyos: 150,641–159,958 TL/m²
3. Price range by development
- Kemer Country: 40-250M+ TL
- KÖY Phase 1: 35-95M TL
- KÖY Phase 3: 40-90M TL
- Mesa Ormanada: 22-65M TL
- Zekeriyaköy Konakları: 25-80M TL
- Batıyakası Köy: 25-70M TL
- KÖY Phase 2: 24-55M TL
- KÖY Koru: 22-45M TL
4. Foreign investment
Roughly 18% of transactions closed by KW Sarıyer in 2025 and 2026 involved foreign nationals (anonymised sample, n=247). The Turkish citizenship-by-investment programme and its USD 400K threshold is the main driver. The most active countries of origin are Germany, the Netherlands, the UAE, Saudi Arabia and Russia, with an average purchase value of USD 1.2M to 2.5M.
5. Scenarios for 2027
- Base case (55% probability): nominal growth of 12-15%, taking the average to 258-265K TL per m². Central Bank policy holds its current course and foreign demand stays at present levels.
- Optimistic (30%): nominal growth of 18-22%, 271-280K TL per m². A rate-cutting cycle, rising foreign demand and accelerated construction on the Kilyos Tunnel.
- Pessimistic (15%): nominal growth of 5-8%, 242-249K TL per m², which is a real-terms loss. An interest rate shock, geopolitical tension or a fall in foreign demand.
6. Methodology and data sources
This report synthesises four principal data sources:
- Turkish Statistical Institute house price index: monthly data for the Sarıyer district as a whole.
- Endeksa: average TL/m² along the northern Sarıyer corridor, Q1 2021 to Q1 2026.
- EVA Sarıyer report — aggregated data from official valuation reports.
- KW Sarıyer closed-transaction sample — 247 anonymised transactions from March 2021 to March 2026, used to derive the mean, median and distribution.
The annual average of the Turkish consumer price index was used to calculate real change.
Disclaimer: This report presents general market analysis and does not constitute individual investment advice. Take professional advice before making a decision. Attribution: "Source: Kerem Ali Yörükoğlu — keremaliyorukoglu.com/raporlar/2026-zekeriyakoy-konut-deger-raporu" Licence: CC-BY 4.0