Forecast: Production in Real Estate Activities Sector in Turkey

The real estate activities sector in Turkey has shown significant growth from 2013 to 2023, with production increasing from 21.28 billion to 83.91 billion New Turkish Liras. The sector grew notably faster around 2017-2018 and showed a high year-on-year percentage growth of 44.04% in 2018. Growth has moderated in recent years, with a year-on-year variation of 8.84% in 2023, reflecting a more stable but steady increase. From 2019 to 2023, the Compound Annual Growth Rate (CAGR) averaged around 11.02%.

Looking forward, the forecasted data indicates continued growth, albeit at a slower pace. The production is expected to rise from 90.65 billion in 2024 to 116.97 billion New Turkish Liras by 2028, with a forecasted 5-year CAGR of 5.23%. This reflects a more mature phase of growth in the sector.

Future trends to watch for in Turkey's real estate sector include:

• Economic factors such as inflation rates and foreign investment levels.
• Government policies affecting the real estate market.
• The development of new construction technologies and sustainable building practices.
• Potential shifts in demographic trends and urbanization rates.