The household expenditure on housing, water, and energy in Turkey has experienced significant growth over the past decade, witnessing a sharp increase in 2022 and 2023. In 2023, expenditures reached 1761.2 Billion New Turkish Liras. Year-on-year variation surged from 109.78% in 2022 to 51.2% in 2023. Over the last five years, the compound annual growth rate (CAGR) has averaged at 38.9%, compared to the 10.87% seen in 2013.
Looking ahead, expenditures are expected to continue rising, with forecasted figures for 2028 predicting a value of 4666.8 Billion New Turkish Liras. The forecasted five-year CAGR from 2024 to 2028 is 14.67%, translating to an overall five-year growth rate of 98.24%.
Future trends to watch include:
- Inflation rates and economic stability will play crucial roles in determining the actual expenditure on housing, water, and energy.
- Governmental policies and subsidies in these sectors may affect the affordability and spending patterns of households.
- Technological advancements and renewable energy initiatives could influence energy expenditures, potentially moderating future growth rates.
- Urbanization patterns and demographic changes will also be significant factors in shaping future expenditure trends.
