Turkiye Real Estate Market Analysis 2024

Updated: Nov 23

The graph shows the number of residential property purchase and sale transactions involving foreign nationals in Turkey from 2015 to July 2024.

2015-2016: There is a decrease in the number of transactions from 22,991 in 2015 to 18,391 in 2016. This may be due to the unstable political situation in the country and regional conflicts.
2017-2019: The number of transactions begins to recover. In 2017, there were 22,428 transactions, in 2018, there were 40,044, and in 2019, there were 45,967. This increase may be due to the improvement of the investment climate in the country and the introduction of more attractive conditions for foreign investors.
2020-2021: In 2020, due to the pandemic, there is a decline to 41,298, but already in 2021, the numbers recover to 59,282 transactions.
2022: The maximum peak of 68,210 transactions, which may be caused by an increase in interest in real estate in Turkey from foreign citizens, especially in connection with citizenship by investment programs.
2023-2024: A sharp drop to 35,000 in 2023 and 12,929 transactions by July 2024. The reasons may be economic and political factors, as well as changes in legislation regarding real estate transactions for foreign citizens.