Turkey’s Real Estate Market Thrives with Record Sales
Turkey’s housing market showed remarkable growth last year, defying high interest rates on home loans. The demand for real estate remained strong, with buyers actively investing in houses, villas, and apartments across the country.
In 2024, a total of 1,478,025 residential properties were sold, marking a significant 20.6% increase from 2023. This growth not only compensated for previous declines but also set a strong upward trend in the market.
According to the Turkish Statistical Institute (TÜİK), the highest number of housing transactions was recorded in 2020 at 1,499,316 units. Other notable years include 1,491,856 sales in 2021, 1,485,622 in 2022, and 1,225,926 in 2023, demonstrating the resilience of Turkey’s real estate sector.
Despite high loan interest rates, the demand for housing continues to surge. Analysts confirm that Turkey needs approximately one million new apartments annually, and property values in the most sought-after provinces have already risen by 6% in just one month. This sustained growth highlights the country’s thriving real estate market and its strong investment potential.
