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.

Residential Property Prices in Turkey increased 31.84 percent in March 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 Residential Property Prices for Turkey (QTRN628BIS) from Q1 2010 to Q1 2025 about Turkey, residential, HPI, housing, price index, indexes, and price.

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.

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 187.70 points in July from 186 points in June 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.

The Turkish residential real estate market, valued at $99.05 million in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 11.16% from 2025 to 2033. This growth is driven by several factors. Increasing urbanization and a burgeoning young population fuel demand for housing, particularly in key cities like Istanbul, Antalya, and Bodrum, known for their tourism and economic activity. Government initiatives aimed at stimulating the construction sector and infrastructure development also contribute positively. Furthermore, Turkey's strategic geographic location and relatively affordable property prices compared to Western European nations attract both domestic and international investors. However, economic volatility and fluctuating exchange rates represent significant challenges. Inflationary pressures and potential interest rate hikes can impact affordability and deter buyers. Furthermore, the market's dependence on tourism in some regions makes it vulnerable to external shocks like global pandemics or geopolitical instability. The segmentation of the market, encompassing apartments/condominiums, villas, and landed houses, caters to diverse buyer preferences and contributes to the overall market dynamism. Leading developers such as Sinpas Group, Agaoglu Group, and others play a vital role in shaping the market's trajectory. The segment of apartments and condominiums dominates the market, driven by affordability and high population density in urban centers. Villas and landed houses cater to a more affluent segment, with significant demand in coastal areas and regions with scenic landscapes. While the Turkish domestic market forms the core of demand, international buyers, especially from the Middle East and Europe, contribute significantly, especially to the high-end segments. The analysis of past performance (2019-2024) reveals significant variations linked to economic cycles and international events. Projecting forward, a cautious optimism is warranted, with growth contingent on macro-economic stability and sustained investor confidence. Detailed regional breakdowns within Turkey and global comparisons will provide further granular insights into market dynamics. This insightful report provides a deep dive into the Turkish residential real estate market, offering a comprehensive analysis of its current state, future trends, and key players. With a focus on the period from 2019 to 2033, including a base year of 2025 and a forecast period spanning 2025-2033, this report is an essential resource for investors, developers, and industry professionals seeking to understand and capitalize on opportunities within this dynamic sector. The report leverages data from the historical period (2019-2024) to provide accurate and reliable projections. Keywords: Turkish real estate market, Istanbul property market, Antalya real estate, Bodrum property, Turkish residential market analysis, real estate investment Turkey, Turkish construction industry, Turkish housing market forecast. Key drivers for this market are: Increasing Investment in Infrastructure Projects, The rising popularity of sustainable architecture. Potential restraints include: Volatility in Raw material prices. Notable trends are: Increasing FDI Flow in the Residential Real Estate Market in Turkey.

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 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.

Turkey experienced the highest annual change in house prices in 2024, followed by Bulgaria and Russia. In the fourth quarter of the year, the nominal house price in Turkey grew by **** percent, while in Bulgaria and Russia, the increase was ** and ** percent, respectively. Meanwhile, many countries saw prices fall throughout the year. That has to do with an overall cooling of the global housing market that started in 2022. When accounting for inflation, house price growth was slower, and even more countries saw the market shrink.

The real estate transaction value in the 'Residential Real Estate Transactions' segment of the real estate market in Turkey was modeled to stand at ************* U.S. dollars in 2024. Following a continuous upward trend, the real estate transaction value has risen by ************* U.S. dollars since 2017. Between 2024 and 2029, the real estate transaction value will rise by ************ 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.

As of May 2024, the unit prices of the residential properties in Turkey hit nearly ****** 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 ****** thousand Turkish lira per square meter

Turkey Commercial Real Estate Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2026 to 2032.

Turkey Commercial Real Estate Market : Definition/Overview

Commercial real estate (CRE) refers to properties that are primarily used for business purposes rather than residential living. This category encompasses a wide range of non- residential properties designed to generate income, including office buildings, retail spaces, industrial warehouses, hotels, and multifamily housing units. Typically leased to tenants who conduct income-generating activities, commercial real estate plays a crucial role in the economy by providing the necessary infrastructure for businesses to operate.

The management, leasing, and development of these properties involve various stakeholders and can yield profits through rental income or capital appreciation.

The number of houses bought by non-Turkish citizens in Turkey increased from 12 thousand in 2013 to almost 67.5 thousand in 2022, which was the highest value recorded throughout the observed period. In 2023, the figures decreased significantly and amounted to 35 thousand.

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.

Real residential property prices Y-on-Y, percent change in Turkey, March, 2025 The most recent value is -5.63 percent as of Q1 2025, an increase compared to the previous value of -12.34 percent. Historically, the average for Turkey from Q1 2011 to Q1 2025 is 6.91 percent. The minimum of -13.51 percent was recorded in Q3 2024, while the maximum of 57.25 percent was reached in Q1 2023. | TheGlobalEconomy.com

As of March 2024, Ankara became the region with the highest house price index (HPI) in Turkey. The largest city in the Republic of Turkey, Istanbul, recorded a house price index (HPI) of about ******

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.

Graph and download economic data for Harmonized Index of Consumer Prices: Actual Rentals for Housing for Turkey (CP0410TRM086NEST) from Jan 1996 to Jul 2025 about Turkey, rent, harmonized, CPI, housing, price index, indexes, and price.