Turkey Real Estate Market: Opportunities And Challenges

Introduction to Turkey’s real estate market

Turkey's real estate market is one of the most dynamic and lucrative in the world, offering a range of investment opportunities to both local and international buyers. With a growing population and a thriving economy, Turkey has seen a significant increase in demand for residential and commercial properties in recent years. One of the key factors driving growth in Turkey's real estate market is the country's strategic location, as it serves as a gateway between Europe, Asia, and the Middle East. This makes it an ideal location for international business and trade, as well as a popular destination for tourists.

 Growth and size

The Turkish real estate market offers a range of investment opportunities, from affordable apartments to luxury villas, commercial properties, and industrial facilities. Istanbul, the largest city in Turkey, is a particularly attractive investment destination, offering a wealth of investment opportunities across a range of sectors. Turkey's real estate market has grown significantly over the past decade, becoming one of the largest and most dynamic markets in the world. The market has experienced steady growth due to several factors, including a growing population, increasing urbanization, and a strong economy. According to official data, the real estate sector in Turkey accounted for approximately 8% of the country's GDP in 2020. Demand for properties as a whole is essentially stable. According to the Turkish Statistical Institute, the total number of home sales increased marginally by 1% to 1.28 million units in the first eleven months of 2022 compared to the same p

There are also significant regional variances, with smaller rural locations seeing more demand in Turkey's main cities. Throughout the initial eleven months of 2022: Home sales in Istanbul, which account for more than 17% of all transactions, decreased by 6% year over year to 222,910 units. Home sales in Ankara, which had a market share of roughly 9%, fell by 10.5% year over year to 109,801 units. Home sales in Izmir, which made up about 6% of the market, decreased marginally by 1% year over year to 72,626 units.