The historical data and forecast for production in real estate activities in Turkey indicate a dynamic growth trajectory from 2013 to 2023, with the value reaching 168.98 Billion New Turkish Liras in 2023. This trend highlights substantial growth, significantly accelerating from 2021 onwards with a pivotal surge in 2022, exhibiting a growth rate of 376.14%. The compound annual growth rate (CAGR) over the last five years stands at an impressive 70.2%, reflecting robust expansion driven by various internal and external economic factors.
The upcoming years project continued growth albeit at a more tempered pace, with a forecasted CAGR of 16.86% through 2028. This indicates a steady yet substantial rise in production activities within the real estate sector, reinforcing a positive long-term outlook for the industry in Turkey.
Trends to watch for in the future include potential impacts of macroeconomic stability, government policy changes, foreign investment trends, and market demand-supply dynamics which could significantly influence the real estate sector's performance.
