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.

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

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.

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.

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 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 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.

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.

Housing Index in Turkey increased to 192.50 points in August from 187.80 points in July 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 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.

Key information about Turkey Gold Production

• Turkey Real Residential Property Price Index was reported at 224.559 2010=100 in Sep 2024.
• This records a decrease from the previous number of 229.125 2010=100 for Jun 2024.
• Turkey Real Residential Property Price Index data is updated quarterly, averaging 118.882 2010=100 from Mar 2010 to Sep 2024, with 59 observations.
• The data reached an all-time high of 263.702 2010=100 in Jun 2023 and a record low of 98.667 2010=100 in Mar 2010.
• Turkey Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

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.

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.

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.

Turkey AI in Classified Market valued at USD 675 million, driven by digital real estate platforms, AI personalization, and government support for tech adoption.

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.

Comprehensive dataset of 126 Real estate agencies in Kırşehir, Turkey as of August, 2025. Includes verified contact information (email, phone), geocoded addresses, customer ratings, reviews, business categories, and operational details. Perfect for market research, lead generation, competitive analysis, and business intelligence. Download a complimentary sample to evaluate data quality and completeness.

Forecast: Turnover in Real Estate Activities Sector in Turkey 2023 - 2027 Discover more data with ReportLinker!

The residential real estate market in Oman size was valued at USD 3.67 Billion in 2022 and is likely to reach USD 8.10 Billion by 2031, expanding at a CAGR of 9.19% during the forecast period, 2023–2031. The growth of the market is attributed to increasing demand for housing real estate space Moreover, rapid urbanization owing to the migration in search of better amenities is driving the market growth.



Residential real estate is an area developed for people to live in it. Some people purchase real estate in intention of making money, by selling it at a profit, leasing it to others, or charging people for the rent. Most people in the country use residential real estate property to live on it.

The real estate market involves buying and selling of condominiums, villas, and houses for personal or business use. Residential real estate business has been growing exponentially owing to the presence of established players entering the market. Government reforms and lower rentals and mortgage rates in the developing countries are expected to boost the market during the forecast period.



Residential real estate consists of housing for individuals, families, and groups of people. This is the most common type of estate and also the asset class that most of the people are familiar with, across the globe. Within the residential space, there are single-family homes, apartments, condominiums, townhouses, and other types of living arrangements.

Market Trends, Drivers, Restraints, and Opportunities

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  Increasing number of affordable units of housing are expected to propel the market growth in the coming years.

  
  


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  Rising population in the country is anticipated to act as a m