In a significant move that highlights Turkey’s improving economic stability, Fitch Ratings has upgraded the country’s credit rating from B+ to BB-, with a stable outlook. This marks the second upgrade by Fitch in 2024, underscoring the positive strides Turkey is making in strengthening its external buffers and restoring confidence in its monetary policies. This […]
The report delves into the intricacies of the Turkish property market during the second quarter of 2024. Through meticulous analysis of key statistics and trends by Realty Homist experts, we aim to provide valuable insights for investors, developers, and stakeholders operating within this dynamic sector. House Sales Statistics, Q2 2024 Mortgaged House Sales Other House […]
As Turkey strides into 2024, its real estate market is poised for a transformative journey, shaped by economic shifts, political developments, and technological innovations. In this forecast, we dissect the intricate tapestry of factors influencing the sector, offering a glimpse into potential challenges, emerging trends, and strategic opportunities. From the impact of government policies on housing to the role of PropTech in reshaping property transactions, this article aims to equip investors, developers, and homebuyers with the insights needed to navigate the dynamic landscape of Turkey’s real estate market in the coming year.
The Turkish housing market experienced a decline in the number of transactions during Q1-2023. This was largely due to the earthquake that occurred in the southeast of Turkey in February and the upcoming election on May 14, 2023. Non-Turkish buyers had a very small share of the market compared to 96.4% of Turkish buyers. Istanbul remained the city with the highest number of transactions, with 50,461 units sold, indicating a 12% decrease compared to the same period in 2022.