The Real Estate Gross Value Added (GVA) in Turkey has experienced significant fluctuations from 2013 to 2023. Following a peak in 2016, there has been a consistent downward trend. Notably, 2017 marked a significant decline, and the subsequent years continued to exhibit a sharp drop, with 2023 recording only 28.1 billion Euros. The year-on-year variations, especially in the last two years, reflected a substantial reduction, with -6.26% in 2022 and -12.16% in 2023. The five-year CAGR leading to 2023 was -8.68%.
The forecast for 2024 onwards indicates a continued decline, with a forecasted GVA of 10.68 billion Euros by 2028. This translates to a projected five-year CAGR of -15.33% and a total forecasted decrease of 56.48% in GVA by 2028.
Future trends to watch:
- Potential economic policy changes impacting the real estate sector.
- Investment in infrastructure and its effects on market stability.
- External economic factors, including global market conditions and foreign investment levels.
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