Real Estate Gross Value Added in Türkiye has seen a consistent decline from 2013 to 2023, dropping from 78.09 billion USD to 28.68 billion USD. This marked a significant reduction, particularly from 2015 onwards, with year-on-year variations consistently showing negative growth. The most severe drops were noted in 2022 and 2023 with reductions of 16.54% and 14.85%, respectively. The Compound Annual Growth Rate (CAGR) over the past five years (2019-2023) stands at -11.31%, reflecting a substantial contraction in the sector.
Looking ahead, the forecasted values indicate a steep decline, with the sector expected to fall to 3.35 billion USD by 2028. The forecasted CAGR for the next five years (2024-2028) is -32.28%, suggesting an accelerated downturn with an overall forecasted growth rate of -85.76% over these years.
Future trends to watch for include:
- The impact of potential regulatory changes and government interventions aimed at stabilizing the sector.
- Economic recovery efforts post-2024 and their influence on real estate demand and investment.
- Inflation rates and currency fluctuations, which can further impact real estate valuation in USD terms.
