The real estate activities sector in Turkey witnessed steady growth between 2013 and 2023, with turnover escalating from 21.44 billion New Turkish Liras in 2013 to 70.04 billion New Turkish Liras in 2023. Annual variations showed significant fluctuations, notably the substantial year-on-year growth in 2018 (40.05%) and a brief decline in 2020 (-4.48%). The overall Compound Annual Growth Rate (CAGR) over the last five years stabilized at 7.43% by 2023.
Forecasts indicate continued growth, reaching an estimated 88.01 billion New Turkish Liras by 2028, implying a 5-year forecasted CAGR of 3.63%. This gradual increase reflects a tempered yet steady expansion of the sector.
Future trends to watch for include the impacts of urbanization shifts, regulatory changes, and potential economic policy adjustments. Monitoring technological integration in real estate and sustainability initiatives will also be crucial in anticipating further market evolution.
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