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

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.

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.

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.

Turkey Residential Real Estate Market is expected to grow during 2025-2031

Discover the booming Turkish residential real estate market! This comprehensive analysis reveals a CAGR of 11.16%, driven by urbanization, tourism, and investment. Explore market segments, key players (Sinpas Group, Agaoglu Group), and regional trends in Istanbul, Antalya, and more. Invest wisely with our data-driven insights. 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 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.

Housing Index in Turkey increased to 198.80 points in October from 195.70 points in September 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 Housing Prices Dataset

This dataset contains detailed information about housing listings in Turkey, providing insights into the real estate market. It includes key attributes of properties listed for sale, such as seller type, property size, number of rooms, location details, listing date, and price. The data is ideal for analyzing housing market trends, building price prediction models, or conducting regional real estate studies in Turkey.

Columns:

satici_tip (Seller Type): Indicates the type of seller (e.g., individual or real estate agent). Metrekare (Square Meters): The total area of the property in square meters. Oda_Sayisi (Number of Rooms): The total number of rooms in the property (e.g., 2+1 for 2 bedrooms and 1 living room). il (City): The city where the property is located (e.g., Istanbul, Ankara). Ilce (District): The district within the city (e.g., Kadıköy, Çankaya). Mahalle (Neighborhood): The neighborhood where the property is located. Tarih (Date): The date when the listing was published or recorded (format: YYYY-MM-DD). fiyat (Price): The listed price of the property in Turkish Lira (TRY). Potential Use Cases:

Predicting housing prices based on location, size, and room count. Analyzing regional differences in Turkey’s real estate market. Investigating trends in property prices over time. Studying the impact of seller type on pricing strategies. Notes:

The dataset is in CSV format and has been cleaned to ensure consistency in data types. Missing values, if any, should be checked before analysis. Location data (il, Ilce, Mahalle) can be used for geospatial analysis. Users are encouraged to verify the data for specific use cases, as it may require additional preprocessing.

Tags: Turkey, Real Estate, Housing, Property Prices, Deep Learning, Machine Learning, Data Analysis, Geospatial Data

The Turkish residential real estate market, valued at $99.05 million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 11.16% from 2025 to 2033. This expansion is fueled by several key factors. Turkey's strategic geographic location, bridging Europe and Asia, attracts significant foreign investment, particularly in coastal areas like Antalya, Bodrum, and Fethiye, known for their tourism and lifestyle appeal. Furthermore, a growing domestic population, increasing urbanization, and government initiatives promoting affordable housing contribute to market demand. The market is segmented into apartments and condominiums, which dominate the market share, and villas and landed houses, catering to a higher-end buyer segment. Major players like Agaoglu Group, Artas Group, and others shape the competitive landscape. While robust growth is anticipated, challenges such as economic volatility and fluctuating currency exchange rates could potentially restrain market expansion. The market's growth trajectory will be significantly influenced by infrastructure development, regulatory changes, and the overall health of the Turkish economy. The forecast period, 2025-2033, is expected to witness sustained growth, although the rate might fluctuate year-to-year depending on macroeconomic conditions. Istanbul, Bursa, and Antalya remain key cities driving market expansion due to their established infrastructure, employment opportunities, and diverse housing options. While the provided data focuses primarily on the Turkish domestic market, international investors, particularly from Europe and the Middle East, play a significant role, influencing demand and price dynamics. Analyzing regional trends reveals that the European and Middle Eastern & African markets will likely exhibit the highest growth in investment and demand, mirroring the trends in foreign investment into Turkish real estate. The market's performance will closely track broader economic indicators in Turkey and the global landscape. Ongoing construction activity, especially in new developments and infrastructure projects, will directly impact market supply and growth. Recent developments include: In February 2022, Emlak Konut announced the construction of 900 residential housing units. The total value of the construction is TRY 3.1 billion (USD 211 million). The project is located in the Sariyer district, and it is estimated to be completed by the end of 2024., In January 2021, Ofton Construction announced the construction of three residential projects, which are in the planning and designing phase, named Bomonti, Levente, and Nisantasi. These three projects are located in different locations- Sisli, Levent, and Nisantasi, respectively. All these projects are estimated to be completed in 2025.. Notable trends are: Increasing FDI Flow in the Residential Real Estate Market in Turkey.

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 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 residential real estate market in Turkey is projected to reach a valuation of USD 250 billion by 2033, growing at a compound annual growth rate (CAGR) of 6.5% from 2025 to 2033.

Explore the thriving Turkish Residential Real Estate Market, projected to reach $99.05 million by 2025 with an 11.16% CAGR. Discover key drivers, emerging trends like smart homes, and major players shaping Turkey's property landscape. 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 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.

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.

USD 4.48 Billion in 2024; projected USD 7.99 Billion by 2033; CAGR 6.64%.

Residential Real Estate In Turkey Market size was valued at USD 64.32 Billion in 2024 and is projected to reach USD 98.63 Billion by 2032, growing at a CAGR of 7.8% from 2026 to 2032.

Key Market Drivers:

Rising Demand for Housing Due to Urbanization: The rising urbanization in Turkey is one of the primary drivers of the residential real estate market. According to a 2023 report by Turkey’s Ministry of Environment, Urbanization, and Climate Change, over 75% of the population now lives in urban areas, contributing to a strong demand for housing. Major cities like Istanbul, Ankara, and Izmir are experiencing high population growth, pushing the demand for residential real estate. Companies like Emlak Konut are responding with large-scale development projects to meet this growing need for urban housing.

Discover the booming Turkish commercial real estate market! This in-depth analysis reveals a 9.74% CAGR, driven by tourism, urbanization, and infrastructure development. Learn about key players, market segments (offices, retail, hospitality), and regional trends in Istanbul, Antalya, and more. Projecting significant growth to 2033. 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: Improvement in Hospitality Sector.

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.