The Turkey residential real estate market size reached USD 138.32 Billion in 2024 and is projected to grow to USD 383.65 Billion by 2033. The market is expected to expand at a CAGR of 10.74% during the forecast period of 2025-2033. Growth is supported by urbanization, a rising middle class, government stimulus programs, foreign investment, and infrastructure development.

Study Assumption Years

• Base Year: 2024

• Historical Years: 2019-2024

• Forecast Period: 2025-2033

Turkey Residential Real Estate Market Key Takeaways

• The market size was USD 138.32 Billion in 2024 and is forecast to reach USD 383.65 Billion by 2033 with a CAGR of 10.74% during 2025-2033.

• Demand is driven by large-scale urbanization and an expanding middle class.

• Government initiatives such as citizenship-for-property programs and cheap mortgages boost both domestic and foreign investments.

• Strategic geographic location and relatively affordable property prices attract considerable foreign investment, influencing supply trends and pricing.

• Urbanization leads to modernization and high-density developments in major cities with growing housing demand.

• Government policies supporting low-interest mortgages, tax credits, and infrastructure projects encourage sustained market growth.

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Market Growth Factors

Rapid urbanization remains a principal driver, with 77.89% of Turkey’s population living in urban areas in 2024, up from 77.46% in 2023. Migration to cities such as Istanbul, Ankara, and Izmir and the formation of new households escalate housing demand, promoting developments of apartments, condominiums, and mixed-use projects. This demographic growth fuels modernization efforts and expansion of high-density housing complexes, optimizing land use in urban regions.

Foreign investment significantly propels market growth due to Turkey’s strategic position bridging Europe and Asia, affordable property prices compared to Western Europe, and high rental yields. The government’s citizenship-for-property program accelerates international demand, especially in Istanbul, Antalya, and coastal areas. This influx of foreign capital drives innovations, premium construction standards, and urban regeneration projects, shaping pricing strategies and enhancing market dynamics.

Government incentives further stimulate growth by increasing affordability and investment appeal. Low-interest mortgages, tax reductions, housing credit support, and infrastructure projects such as new roads, airports, and urban renewal contribute to increased property values and development opportunities. Regulatory support for property ownership and construction confidence, alongside public-private partnerships, accelerate large-scale housing projects aligned with earthquake resilience and modern living standards.

Market Segmentation

By Type

• Condominiums and Apartments: The segment covers apartments and condominiums responding to urban housing demand with vertical, high-density complexes and integrated amenities.

• Villas and Landed Houses: Includes standalone villas and landed houses tailored to both domestic and foreign buyers seeking residence in suburban and coastal regions.

By Region

• Marmara: One of the key regional markets renowned for infrastructure development and investment activity.

• Central Anatolia

• Mediterranean

• Aegean

• Southeastern Anatolia

• Black Sea

• Eastern Anatolia

Regional Insights

The Marmara region stands as a dominant market influenced by major urban centers like Istanbul, benefiting from extensive infrastructure projects and foreign investment inflows. While exact market shares and CAGR by region are not quantified, the report highlights Marmara’s prominence in shaping Turkey’s residential real estate dynamics through large-scale urbanization and investment.

Recent Developments & News

In February 2025, Türkiye’s Emlak Konut launched a housing campaign aimed at middle-income buyers, featuring zero down payment, reduced installments, a 12-month grace period, and a leasing model across 25 projects in Istanbul, Izmir, Antalya, and Balıkesir. The program seeks to ease homeownership amid rising rents, high property prices, and elevated borrowing costs, aligning with a growing population nearing 85.7 million and expected to exceed 88 million by 2030. Flexible, low-interest repayment options up to 60 months support the initiative.

Key Players

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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