2024 begins: what should the Turkish real estate market expect?

The number of new construction permits issued in Turkey grew in 2023. This means an increase in the number of new projects that will be commissioned in 2024. However, this is not enough to meet current needs. Turkey has been leading the world in price growth over the past 2.5 years. Real estate prices will continue to rise this year helped by the following several circumstances:

• low construction rates;
• the high cost of building materials;
• a continued demand for housing.

Investments in Turkish real estate remain potentially beneficial, as it will only become more expensive afterwards.