Market Overview
The Turkey residential real estate market size reached USD 138.32 Billion in 2024 and is projected to expand to USD 383.65 Billion by 2033. This growth reflects a CAGR of 10.74% during the forecast period 2025-2033. The market growth is driven by large-scale urbanization, an increasing middle class, government incentives, and enhanced foreign investment attracted by Turkey’s strategic location.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Period: 2025-2033
Turkey Residential Real Estate Market Key Takeaways
- Current Market Size: USD 138.32 Billion in 2024
- CAGR: 10.74% (2025-2033)
- Forecast Period: 2025-2033
- Foreign investment is driven by Turkey’s strategic geographic location bridging Europe and Asia, affordable prices, and government citizenship-for-property incentives.
- Rapid urbanization with 77.89% urban population in 2024 fuels demand, especially in Istanbul, Ankara, and Izmir.
- Government incentives include low-interest mortgages, tax credits, and infrastructure development, boosting market growth.
- Infrastructure projects and urban renewal initiatives enhance property values and investment opportunities.
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Market Growth Factors
Turkey’s residential real estate market growth is significantly influenced by foreign investment. The country’s strategic geographic position, bridging Europe and Asia, makes it attractive to international buyers. Affordable property prices compared to Western Europe, combined with competitive rental yields, attract investors seeking investment and residency opportunities. The government’s citizenship-for-property program has intensified demand, especially in key areas such as Istanbul, Antalya, and coastal regions. Foreign capital influx stimulates innovations, premium construction standards, and urban regeneration, sustaining Turkey’s global competitiveness in residential real estate.
Urbanization forms another critical growth driver. In 2024, 77.89% of Turkey’s population resided in urban areas, up from 77.46% in the previous year. Major cities like Istanbul, Ankara, and Izmir confront increasing housing demand driven by rural-to-urban migration and the rise of young household formations. This demographic shift propels demand for apartments, condominiums, and mixed-use developments, prompting developers to focus on high-density residential complexes and vertical housing solutions to optimize space.
Government policies also play a vital role in fueling market expansion. Incentives such as low-interest mortgages, tax reductions, and housing credit schemes enhance affordability, encouraging domestic and foreign investment alike. Infrastructure projects—including new roads, airports, and urban renewal—raise property values and create development opportunities. Furthermore, regulations promoting property ownership and construction, alongside public-private partnerships, bolster developer confidence. Housing projects increasingly align with urban transformation and earthquake resilience strategies, providing modern living standards and sustained market liquidity.
Market Segmentation
Type Insights:
- Condominiums and Apartments: This segment includes various multi-family residential units designed for urban living, catering to the growing demand for high-density housing in major cities.
- Villas and Landed Houses: This category comprises single-family homes and landed properties, appealing to buyers seeking more spacious and private living arrangements.
Regional Insights:
- Marmara
- Central Anatolia
- Mediterranean
- Aegean
- Southeastern Anatolia
- Black Sea
- Eastern Anatolia
The segmentation provides detailed analysis and forecasts for these key regions, reflecting diverse market dynamics and development opportunities across Turkey.
Regional Insights
The Marmara region stands out as the dominant market for residential real estate in Turkey, influenced by its strategic urban centers such as Istanbul. Rapid urbanization and government-supported infrastructure projects in this region bolster high housing demand and investment. The report highlights that continuous population growth and urban expansion in Marmara contribute significantly to the overall market size and growth trajectory.
Recent Developments & News
In February 2025, Türkiye’s Emlak Konut initiated a housing campaign targeting middle-income buyers. The campaign offers zero down payment, reduced installment payments, a 12-month grace period, or a leasing model across 25 projects in Istanbul, Izmir, Antalya, and Balıkesir. Designed to ease homeownership amid rising rents, high property prices, and increased borrowing costs, the program supports flexible, low-interest repayment options of up to 60 months. This initiative also addresses the housing demand from Turkey’s population nearing 85.7 million and expected to exceed 88 million by 2030.
Key Players
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Customization Note
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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