Forecast: Number of Employees in Real Estate in Turkey

The number of employees in the real estate sector in Turkey has demonstrated a consistent upward trend from 2014 to 2023, rising from 150,000 to 243,000 individuals. Notably, the year-on-year growth rates have varied, peaking in 2017 at 13.41%, indicative of rapid sectoral expansion during that period. However, growth moderated in subsequent years, with the most recent data showing a 2.53% increase in 2023.

Looking at five-year compound annual growth rates (CAGR), there was a peak at 8.45% in 2019, then a gradual decline to stand at 3.26% by 2023. Forecasts from 2024 onwards suggest a tempered growth rate, with the five-year forecast CAGR of 1.64%, projecting an employee base of 269,000 by 2028.

Future trends to watch for include:

- The impact of economic policies on real estate investments.

- Technological advancements leading to changes in employment patterns.

- Market demand shifts influenced by demographic changes and urbanization rates.