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.

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.

Building contractors and developers depend on various socio-economic factors, including property values, underlying sentiment in the housing market, the degree of optimism among downstream businesses and credit conditions. All of these drivers typically track in line with economic sentiment, with recent economic shocks spurring a difficult period for building contractors and developers. Nonetheless, the enduring need for building services, particularly to tackle housing shortages across the continent, ensures a strong foundation of work. Revenue is forecast to grow at a compound annual rate of 2.3% to reach €1.3 trillion over the five years through 2025. Operational and supply chain disruption caused by the pandemic reversed the fortunes of building contractors and developers in 2020, as on-site activity tumbled and downstream clients either cancelled, froze or scaled back investment plans. Aided by the release of pent-up demand and supportive government policy, building construction output rebounded in 2021. Excess demand for key raw materials led to extended lead times during this period, while input costs recorded a further surge as a result of the effects of rapidly climbing energy prices following Russia’s invasion of Ukraine. Soaring construction costs and the impact of interest rate hikes on both the housing market and investor sentiment led to a renewed slowdown in building construction activity across the continent. However, falling inflation and the start of an interest rate cutting cycle have spurred signs of a recovery in new work volumes, supporting anticipated revenue growth of 2.3% in 2025. Revenue is forecast to increase at a compound annual rate of 6.7% to €1.7 trillion over the five years through 2030. Activity is set to remain sluggish in the medium term, as weak economic growth and uncertainty surrounding the impact of the volatile global tariff environment on inflation and borrowing costs continue to weigh on investor sentiment. Contractors and developers will increasingly rely on public sector support, including measures to boost the supply of new housing, as countries seek to tackle severe housing shortages. Meanwhile, the introduction of more stringent sustainability requirements will drive demand for energy retrofits.

Google Mobility Changes: Residential: Turkey: İstanbul: Üsküdar data was reported at -1.000 % in 30 Sep 2022. This records an increase from the previous number of -2.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Üsküdar data is updated daily, averaging 4.000 % from Feb 2020 (Median) to 30 Sep 2022, with 959 observations. The data reached an all-time high of 47.000 % in 24 Apr 2020 and a record low of -6.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Üsküdar data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

Google Mobility Changes: Residential: Turkey: İstanbul: Başakşehir data was reported at 0.000 % in 30 Sep 2022. This records an increase from the previous number of -1.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Başakşehir data is updated daily, averaging 4.000 % from Feb 2020 (Median) to 30 Sep 2022, with 959 observations. The data reached an all-time high of 48.000 % in 24 Apr 2020 and a record low of -7.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Başakşehir data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

Google Mobility Changes: Residential: Turkey: İstanbul: Sultanbeyli data was reported at -2.000 % in 30 Sep 2022. This stayed constant from the previous number of -2.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Sultanbeyli data is updated daily, averaging 3.000 % from Feb 2020 (Median) to 30 Sep 2022, with 958 observations. The data reached an all-time high of 45.000 % in 01 May 2020 and a record low of -7.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Sultanbeyli data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

Google Mobility Changes: Residential: Turkey: İstanbul data was reported at -1.000 % in 30 Sep 2022. This records an increase from the previous number of -2.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul data is updated daily, averaging 3.000 % from Feb 2020 (Median) to 30 Sep 2022, with 959 observations. The data reached an all-time high of 46.000 % in 01 May 2020 and a record low of -6.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

The Europe Cotton Towel Market would witness market growth of 5.3% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 63,886.0 thousand units, showcasing a growth of 14.8% (2020-2023). Egyptian cotton towels are synonymous with luxury and high quali

Mortgage interest rates worldwide varied greatly in June 2025, from less than ******percent in many European countries to as high as ***percent in Turkey. The average mortgage rate in a country depends on the central bank's base lending rate and macroeconomic indicators such as inflation and forecast economic growth. Since 2022, inflationary pressures have led to rapid increases in mortgage interest rates. Which are the leading mortgage markets? An easy way to estimate the importance of the mortgage sector in each country is by comparing household debt depth, or the ratio of the debt held by households compared to the county's GDP. In 2024, Switzerland, Australia, and Canada had some of the highest household debt to GDP ratios worldwide. While this indicator shows the size of the sector relative to the country’s economy, the value of mortgages outstanding allows to compare the market size in different countries. In Europe, for instance, the United Kingdom, Germany, and France were the largest mortgage markets by outstanding mortgage lending. Mortgage lending trends in the U.S. In the United States, new mortgage lending soared in 2021. This was largely due to the growth of new refinance loans that allow homeowners to renegotiate their mortgage terms and replace their existing loan with a more favorable one. Following the rise in interest rates, the mortgage market cooled, and refinance loans declined.

Google Mobility Changes: Residential: Turkey: İstanbul: Ümraniye data was reported at -1.000 % in 30 Sep 2022. This records an increase from the previous number of -2.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Ümraniye data is updated daily, averaging 4.000 % from Feb 2020 (Median) to 30 Sep 2022, with 959 observations. The data reached an all-time high of 49.000 % in 01 May 2020 and a record low of -7.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Ümraniye data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

Google Mobility Changes: Residential: Turkey: İstanbul: Arnavutköy data was reported at 6.000 % in 15 Oct 2022. This records an increase from the previous number of 3.000 % for 14 Oct 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Arnavutköy data is updated daily, averaging 4.000 % from Feb 2020 (Median) to 15 Oct 2022, with 973 observations. The data reached an all-time high of 45.000 % in 24 Apr 2020 and a record low of -7.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Arnavutköy data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential (Discontinued).

Google Mobility Changes: Residential: Turkey: İstanbul: Bağcılar data was reported at -1.000 % in 30 Sep 2022. This records an increase from the previous number of -2.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Bağcılar data is updated daily, averaging 2.000 % from Feb 2020 (Median) to 30 Sep 2022, with 959 observations. The data reached an all-time high of 48.000 % in 01 May 2020 and a record low of -8.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Bağcılar data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

Google Mobility Changes: Residential: Turkey: İstanbul: Sancaktepe data was reported at 1.000 % in 30 Sep 2022. This records an increase from the previous number of 0.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Sancaktepe data is updated daily, averaging 4.000 % from Feb 2020 (Median) to 30 Sep 2022, with 959 observations. The data reached an all-time high of 50.000 % in 01 May 2020 and a record low of -7.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Sancaktepe data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

Google Mobility Changes: Residential: Turkey: İstanbul: Ataşehir data was reported at 0.000 % in 30 Sep 2022. This records an increase from the previous number of -1.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Ataşehir data is updated daily, averaging 5.000 % from Feb 2020 (Median) to 30 Sep 2022, with 959 observations. The data reached an all-time high of 50.000 % in 01 May 2020 and a record low of -6.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Ataşehir data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

Google Mobility Changes: Residential: Turkey: İstanbul: Bakırköy data was reported at 0.000 % in 30 Sep 2022. This records an increase from the previous number of -1.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Bakırköy data is updated daily, averaging 4.000 % from Feb 2020 (Median) to 30 Sep 2022, with 940 observations. The data reached an all-time high of 41.000 % in 01 Jan 2021 and a record low of -6.000 % in 02 Aug 2020. Google Mobility Changes: Residential: Turkey: İstanbul: Bakırköy data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.

Google Mobility Changes: Residential: Turkey: İstanbul: Şile data was reported at 5.000 % in 14 Oct 2022. This records an increase from the previous number of 2.000 % for 13 Oct 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Şile data is updated daily, averaging 4.000 % from Sep 2020 (Median) to 14 Oct 2022, with 280 observations. The data reached an all-time high of 12.000 % in 26 Aug 2022 and a record low of -1.000 % in 28 Jun 2021. Google Mobility Changes: Residential: Turkey: İstanbul: Şile data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential (Discontinued).

Google Mobility Changes: Residential: Turkey: İstanbul: Beşiktaş data was reported at 1.000 % in 30 Sep 2022. This records an increase from the previous number of -1.000 % for 29 Sep 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Beşiktaş data is updated daily, averaging 6.000 % from Feb 2020 (Median) to 30 Sep 2022, with 931 observations. The data reached an all-time high of 40.000 % in 01 Jan 2021 and a record low of -4.000 % in 03 Jul 2022. Google Mobility Changes: Residential: Turkey: İstanbul: Beşiktaş data remains active status in CEIC and is reported by Google LLC. The data is categorized under Global Database’s Turkey – Table TR.Google.GM: Mobility Trends: Residential.