Turkey 💰 TRY Last updated2026-05-28

Konut kredisi Calculator Turkey

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Quick answer (Turkey)

A ₺4,000,000 konut kredisi at 38.5% over a 10-year term works out to a monthly payment of about ₺131.302, with total interest of ₺11.756.188 over the full term.

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Mortgage Calculator

TRY

Home Value

₺

LTV 80% · No PMI ✓

Loan Amount

₺

Interest Rate

Term

Total Monthly

₺137.968

PITI

Principal + Interest

₺131.302

75% goes to interest

Total Interest

₺11.756.188

over 10 years

Monthly Breakdown

Principal & Interest₺131.302

Property Tax (1.1%/yr)₺4.583

Homeowner's Insurance (0.5%/yr)₺2.083

Total Monthly₺137.968

Principal vs Interest Split

25% principal

75% interest

✨ Live recalculation·Includes P&I, property tax, insurance. Estimates only — consult a licensed lender for exact rates.

Reviewed by

Aisha Rahman, CFP®, MBA LinkedIn ↗

CFP® with 12+ years in mortgage & retirement planning.

Local context

Konut kredisis in Turkey

Typical loan

₺4.000.000

in Turkey

Typical rate

38.5% p.a.

prime borrower, 2026

Typical term

10 years

most common

Market overview

Turkish konut kredisi (housing loans) are dominated by Ziraat Bankası, Türkiye İş Bankası, Garanti BBVA, Yapı Kredi, and Akbank. The market has been distorted by extreme inflation — Turkish CPI peaked above 75% in 2024 and remains around 40% in 2026. The CBRT raised policy rate to 50% in 2024 and has since cut to 35-37.5% in 2025-2026. Mortgage terms are typically much shorter than developed markets (5-10 years) due to inflation and the central bank's direct lending guidance.

Why 38.5% is the typical rate

38.5% reflects a typical floating-rate konut kredisi for a salaried borrower at 75% LTV in early 2026, with CBRT policy rate at 35-37.5%. State-owned Ziraat sometimes offers below-market rates under government housing campaigns (e.g., 1.99% promotional rate for narrow income tiers — but with strict caps and waiting lists).

Tax & regulatory notes

Mortgage interest is partially deductible against rental income for landlords but no general homeowner deduction. Property transfer tax (Tapu harcı) is 4% of the declared value, split 50/50 between buyer and seller by custom (though contracts can shift it). VAT applies to new-build properties: 1% under 150m², 8% 150-200m², 20% above 200m². The Citizenship by Investment program requires a USD 400,000 property purchase (raised from $250k in 2022) — a significant driver of foreign demand.

🧮 Worked example

A ₺4,000,000 konut kredisi at 38.5% over a 10-year term

Loan amount

₺4.000.000

Annual interest rate

38.5%

Term

10 years (120 months)

Monthly payment

₺131.302

Total interest paid

₺11.756.188

Total paid (principal + interest)

₺15.756.188

❓ FAQ (Turkey)

Common questions in Turkey.

Why are Turkish mortgage rates so high?

Turkey has experienced extreme inflation (peak 75% CPI in late 2023, around 40% in 2026) driven by years of unconventional monetary policy (cutting rates while inflation rose). The CBRT pivoted to orthodox policy in mid-2023, hiking the policy rate to 50%. Mortgage rates follow the policy rate with a 2-5% spread. Despite the high nominal rate, the real rate (rate minus inflation) is roughly neutral, which is why borrowers still take mortgages — they're effectively short-TRY.

Turkey Citizenship by Investment via real estate — how does it work?

Foreign buyers can obtain Turkish citizenship by purchasing real estate worth at least $400,000 (USD denominated, increased from $250k in mid-2022) and holding it for 3+ years. The property must be valued by a TÜV-registered appraiser. Family members (spouse + minor children) get citizenship as well. The CBI-driven foreign demand has been a significant prop for the Istanbul/Antalya/Bodrum property market, particularly from Iranian, Russian, Iraqi, and Chinese buyers.

Should I take a TRY-denominated mortgage as a foreigner?

Generally no, unless you have a TRY income stream. Foreign buyers typically purchase in cash (often USD or EUR funds converted at the time of transaction) to avoid currency risk and high TRY borrowing rates. Where mortgages are used, foreigners may access USD-denominated mortgages from certain banks (typically 8-12% rates) — more expensive than home country rates but eliminating TRY currency mismatch.

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