Turkey's 2024 real estate outperforms 2023 performance

The property market in Turkey shows significant growth in 2024, reaching a peak sales volume of 3.07 million units. This is 3.9% higher than in 2023. As a result of this rapid growth, government revenues increased significantly. Transaction fees reached 96.13 billion liras (about $2.7 billion), 60 per cent higher than in 2023, and the main contributor to these revenues was fees for the re-registration of home ownership. Istanbul maintained its leading position in terms of number of transactions, followed by Ankara and Izmir.