2024 Annual Real Estate Value Report Highlights Significant Trends in Turkey

The 2024 Annual Real Estate Value Report provides comprehensive insights into Turkey’s real estate market, covering key trends in residential, commercial, and land values. The report offers valuable information for investors and industry professionals looking to navigate the evolving real estate landscape.

Key Trends in Turkey’s Real Estate Market for 2024

The report highlights several important trends and developments in 2024, including:

1. Residential Property Growth:

Residential property prices across Turkey increased by an average of 35% in 2024. Urban centers like Istanbul, Ankara, and Izmir saw higher growth rates, driven by strong demand and limited supply.

2. Commercial Real Estate Resilience:

Commercial properties remained a stable investment option, with a significant rise in office and retail space values, particularly in metropolitan areas. The demand for premium office spaces has surged due to evolving business needs.

3. Land Values on the Rise:

The demand for land investments continued to grow in rural and suburban areas. Factors such as urban expansion and agricultural projects contributed to notable price increases.

• Istanbul:

As Turkey’s economic and cultural hub, Istanbul led the real estate market with the highest property value growth. Prime neighborhoods such as Beşiktaş, Şişli, and Kadıköy were particularly popular among investors.

• Ankara:

The capital city experienced steady growth in residential and commercial property values, bolstered by infrastructure developments and government projects.

• Izmir:

Coastal areas in Izmir gained traction, attracting both local and foreign investors seeking second homes or rental properties.

Key Drivers Behind Market Growth

Several factors contributed to the trends observed in the 2024 real estate market:

1. High Demand vs. Limited Supply:

Rapid urbanization and population growth have driven demand for housing, particularly in major cities.

2. Foreign Investment:

Turkey remains an attractive destination for international buyers, with its favorable exchange rates and diverse property options.

3. Infrastructure Projects:

Large-scale infrastructure developments, such as transportation networks and urban renewal projects, have boosted property values in targeted regions.

Recommendations for Investors in 2025

1. Focus on Metropolitan Areas:

Investing in properties within Istanbul, Ankara, and Izmir remains a lucrative option, especially in neighborhoods with ongoing infrastructure improvements.

2. Consider Suburban and Coastal Regions:

Suburban areas and coastal cities like Bodrum and Antalya continue to offer opportunities for long-term investment and rental income.

3. Monitor Commercial Property Trends:

Office and retail spaces in prime locations are expected to deliver steady returns as businesses adapt to post-pandemic changes.

Turkey’s real estate market in 2024 demonstrated resilience and adaptability, driven by increasing demand and strategic urban developments. For investors, the market presents opportunities to capitalize on rising property values in both residential and commercial sectors. By focusing on high-growth regions and diversifying investments, stakeholders can navigate the dynamic market and secure profitable outcomes.