The real estate value added in Turkey has shown a consistent decline over the past decade, dropping from 9.32 units in 2013 to 6.61 units in 2023. Year-over-year percentage decreases fluctuated, with notable declines, such as the 8.15% drop in 2017 and a more modest 1.71% decrease in 2023. The last five years saw an average annual decrease (CAGR) of 2.49%. Future projections continue this downward trend, although at a slower pace, with a forecasted 5-year CAGR of -0.67% from 2024 to 2028, leaving an estimated value of 6.3 units by 2028.
Looking ahead, trends to watch for include potential policy changes aimed at revitalizing the real estate sector, shifts in foreign investment, and macroeconomic factors affecting property values. Monitoring these elements will be crucial in understanding and responding to ongoing changes in Turkey's real estate market.
