The report delves into the intricacies of the Turkey property market during the first 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.
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.