Real EstateTurkiye

Turkish Real Estate Market: Foreign Interest and Trends Led by Istanbul

The real estate sector has always been a remarkable field with its dynamic structure and constantly changing market conditions. Istanbul, Turkiye’s locomotive, is at the center of this dynamism. According to Endeksa’s data, the average housing price in Istanbul has reached ₺4 million 239 thousand. This figure is an indicator of the vitality in the city’s real estate market and the high demand for housing.

The interest of foreign investors in the real estate market in Turkiye cannot be ignored. Although there was no major change in housing sales to foreigners in January, a comparison of January 2023 and 2024 shows that the market contracted by 50% in this segment. This situation reveals the impact of global economic conditions and changes in the domestic market on foreign investors. The market share of housing sales to foreigners is at 3%.

When we look at housing sales across Turkiye, Istanbul is by far the leader with 13 thousand 423 house sales and a 17% market share. This shows how attractive a city Istanbul is for both local and foreign investors. Capital Ankara ranks second with 6 thousand 709 sales and a share of 8%. Antalya ranks third with 5,250 house sales and a 7% share. The popularity of Antalya is remarkable, especially for foreign investors. In housing sales to foreigners, Antalya ranks first with 747 houses, Istanbul ranks second with 710 house sales, and Mersin ranks third with 211 house sales.

These data reveal what kind of dynamism Turkiye’s real estate market has in both the local and international arenas. In addition to the interest of foreign investors, there is a market structure in which local demand is also strong. However, the contraction in sales to foreigners may be an important signal for industry professionals and investors. This situation reveals the importance of developing new strategies to attract foreign investors and revitalize the market.

The fact that Antalya follows Istanbul in sales to foreigners shows that this city is a center of attraction not only domestically but also internationally. The natural beauties, climate and quality of life offered by Antalya continue to attract the attention of foreign investors.

These analyzes for the real estate industry provide valuable information for industry professionals, investors and potential buyers. Understanding market dynamics, especially observing the behavior and preferences of foreign investors, gives clues about how the real estate market will be shaped in the future. The future of the sector will be shaped depending on many factors such as global economic conditions, local policies and investors’ expectations. Therefore, everyone operating in the real estate industry needs to closely follow market trends and shape their strategies accordingly.

As a result, Turkiye’s real estate market has significant potential despite changing conditions. Cities such as Istanbul, Ankara and Antalya are at the center of this potential. Sustainability of foreign investors’ interest is critical for the continued vitality and growth of the market. In this context, strategic planning and innovative approaches for the future of the sector will be among the key factors that will take Turkiye’s real estate market even further.

Source: Emlakdergisi / Prepared by Irem Yildiz

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