Key information about House Prices Growth

• Turkey house prices grew 29.4% YoY in Dec 2024, following an increase of 29.4% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 2011 to Dec 2024, with an average growth rate of 12.4%.
• House price data reached an all-time high of 186.8% in Oct 2022 and a record low of 1.2% in Jun 2019.

Graph and download economic data for Residential Property Prices for Turkey (QTRN628BIS) from Q1 2010 to Q2 2025 about Turkey, residential, HPI, housing, price index, indexes, and price.

Residential Property Prices in Turkey increased 32.65 percent in June of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Turkey Residential Property Prices.

Graph and download economic data for Real Residential Property Prices for Turkey (QTRR628BIS) from Q1 2010 to Q2 2025 about Turkey, residential, HPI, housing, real, price index, indexes, and price.

Turkey Residential Real Estate Market Outlook 2031

The Turkey residential real estate market size was USD 79.92 Billion in 2022 and is projected to reach USD 212.88 Billion by 2031 expand at a CAGR of 11.5% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing surge in foreign buyer, rising population, affordable financing options.



Turkey is known for its diverse set of both oriental and European elements, country is a lucrative destination due to its tourism, infrastructure, transportation facilities, and ease of living. Turkey is at a historical combination of aspects where urban transformation meets green housing which is expected to improve affordability and quality of housing and community development. According to Housing Development Administration of Turkey (TOKi) a total of 500,000 residential units were constructed between 2003-2010 in 81 provinces and 830 townships across the country.

In 2002 Turkish property market was first opened to foreign buyers under the reciprocity clause. According to this clause only countries allowing Turkish citizens reciprocal rights, such as Britain, Germany, and Netherlands. The reciprocity clause was abolished in 2012, and since then nationals from 183 countries have been allowed to buy properties in Turkey.



The residential real estate market in Turkey was impacted negatively by the onset of Covid-19 in 2020, the market has since regained some of the momentum due to ease of restrictions worldwide. According to Turkish Statistical Institute Turkish Statistical Institute (TurkStat) in the first four months of 2020, the total number of home sales in Turkey rose by 8.9% to 383,821 units.

Turkey Residential Real Estate Market Trends, Drivers, Restraints, and Opportunities

• Rising population, increasing urbanization, disposable income growth, and affordable financing are major factors driving the market growth during the forecast period.


• Increasing demand for residential real estate among the foreign buyers due to factor such as

In 2023, the Turkey Real Estate Market reached a value of USD 126.8 million, and it is projected to surge to USD 173.7 million by 2030.

Housing Index in Turkey increased to 195.70 points in September from 192.50 points in August of 2025. This dataset provides the latest reported value for - Turkey House Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Turkey Residential Real Estate Market Report is Segmented by Property Type (Villas & Landed Houses, Apartments & Condominiums), by Price Band (Affordable Housing, Mid-Market, and Luxury), by Business Model (Sales and Rental), by Mode of Sale (Primary (New-Build), and More), and by Key Cities (Istanbul, Ankara and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

As of May 2024, the unit prices of the residential properties in Turkey hit nearly 33,500 Turkish lira per square meter. The highest unit prices of the residential properties were in the largest and most populated city, Istanbul, which reached almost 47,300 thousand Turkish lira per square meter

The Turkish commercial real estate market, valued at approximately $XX million in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 9.74% from 2025 to 2033. This expansion is fueled by several key drivers. Strong tourism in cities like Antalya, coupled with increasing domestic and foreign investment, particularly in Istanbul and Bursa, significantly boosts demand for office, retail, and hospitality spaces. The burgeoning logistics sector, driven by Turkey's strategic location and growing e-commerce market, further fuels the demand for industrial and logistics facilities. Furthermore, a growing population and urbanization trends contribute to the increasing demand for multi-family residential properties. While challenges exist, such as fluctuating economic conditions and potential regulatory changes, the overall market outlook remains positive, supported by long-term infrastructure development plans and ongoing efforts to improve the business environment. The market is segmented by property type (offices, retail, industrial, logistics, multi-family, hospitality) and key cities (Istanbul, Bursa, Antalya), allowing investors to target specific niches within the broader market. Major players like Agaoglu Group, Artas Group, Ege Yapi, Calik Holding, Ronesans Holding, and others are actively shaping the market landscape, contributing to its overall growth and development. The forecast period (2025-2033) is expected to witness significant growth across all segments, although the pace might vary. The office segment in Istanbul and Bursa will likely experience substantial growth due to increasing corporate demand and foreign investments. The retail sector, especially in high-traffic areas of major cities, is poised for continued expansion as consumer spending increases. The logistics segment is expected to witness high growth rates fueled by the rising e-commerce sector and improved infrastructure. The hospitality sector will likely benefit from the sustained growth in tourism. While the multi-family residential segment shows solid growth, it might be influenced by factors such as interest rates and government regulations. Monitoring macroeconomic indicators and potential regulatory shifts will be crucial for accurate market prediction in the upcoming years. Overall, the Turkish commercial real estate market presents a blend of opportunities and challenges, requiring strategic planning and risk management to capitalize on its growth potential. Recent developments include: October 2021: Stolthaven Terminals and Rönesans Holding have signed a partnership agreement to jointly develop a new greenfield terminal in Ceyhan, Adana, Turkey, providing storage and handling services to the Ceyhan Petrochemical Industrial Zone, which is being developed by Rönesans Holding., July 2021: Turkey Government has signed a contract with with Calık Holding for the construction of 2 new cutting-edge gas turbines for the Oil Refinery Complex in Turkmenbashi and reconstruction of the power plant. According to the contract, the project will be delivered completely ready for operation in 18 months.. Notable trends are: Improvement in Hospitality Sector.

The report covers Commercial Real Estate Market in Turkey is segmented by type (office, retail, industrial, logistics, hospitality, and multi-family) and key cities (Istanbul, Bursa and Antalya). The report offers market size and forecasts in Values (USD billion) for all the above segments.

The real estate transaction value in the 'Residential Real Estate Transactions' segment of the real estate market in Turkey was modeled to stand at 47.04 billion U.S. dollars in 2024. Following a continuous upward trend, the real estate transaction value has risen by 30.67 billion U.S. dollars since 2017. Between 2024 and 2029, the real estate transaction value will rise by 5.58 billion U.S. dollars, continuing its consistent upward trajectory.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Residential Real Estate Transactions.

In Turkey, the number of houses sold with a mortgage amounted to over 16,778 in Februrary 2025. On the other hand, the number of houses sold with other types of payment plans were significantly higher, totaling 96,040 in Februray 2025.

The Turkey real estate market size reached USD 64,776.2 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,04,165.1 Million by 2033, exhibiting a growth rate (CAGR) of 5.42% during 2025-2033. Urbanization, increasing population, favorable government policies, foreign investments, tourism, infrastructure development, affordable housing projects, economic growth, low interest rates, and robust demand for residential, commercial, and industrial properties are some of the factors contributing to the market expansion.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2025-2033​. Our report has categorized the market based on property, business, and mode.

Turkey online real estate market valued at USD 5 Bn, driven by urbanization and digital platforms, with growth in Istanbul, Ankara, and Izmir, supported by tech advancements.

In the second quarter of 2025, prime office yields equaled 9.5 percent in Izmir, which was the highest figure among the major Turkish cities. This was followed by Ankara, with 9.25 percent.

Turkey Luxury Residential Real Estate Market size was valued at around USD 61.19 billion in 2024 & is projected to reach USD 87 billion by 2030 with 6.11% CAGR.

Turkey Blockchain in Real Estate Transactions Market is valued at USD 1.2 billion, driven by transparency, security, and efficiency in property deals, with key growth in Istanbul, Ankara, and Izmir.

The Turkey Property and Casualty Insurance Market Report and It is Segmented by Insurance Type (Home, Motor, and Other Insurance Types) and by Distribution Channel (Direct, Agency, Bank, Broker, and Other Distribution Channels). The Report Offers Market Size and Forecasts for the Property and Casualty Insurance Market in Turkey in Value (USD Billion) for all the Above Segments.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, notably rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated jump of 1.2% in 2025 to €207.6 billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing over the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated (2021-2023), being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent prices to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this has started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, PropTech—technology-driven innovations designed to improve and streamline the real estate industry—will force estate agents to adapt, shaking up the traditional real estate sector. A notable application of PropTech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.