The value added of real estate in Turkey has shown significant growth over the past decade, rising from 148.97 Billion New Turkish Liras in 2013 to 328.85 Billion New Turkish Liras in 2023. Key yearly increases include a remarkable 13.71% in 2018. However, there were periods of slower growth and even a slight decline in 2020. The average annual growth rate (CAGR) from 2018 to 2023 was 5.42%. Forecasted growth appears to stabilize, with expected values reaching 395.93 Billion New Turkish Liras by 2028 and a predicted CAGR of 2.97% over the next five years.
Future trends to watch for include:
- Global economic conditions and their impact on the Turkish real estate market.
- Inflation trends and their influence on property values.
- Government policies affecting real estate investment and development.
- Technological advancements affecting real estate transactions and property management.
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