Real Estate Prices in Turkey 2024: A Thriving Market
Real estate prices in Turkey continue to rise, outpacing foreign currencies in growth and maintaining their position as a secure investment choice. According to data, property prices in Turkey surged significantly over the past one and two years, with major cities like Istanbul, Antalya, and Izmir leading the way.
Nationwide Growth Trends
The data reveals that property sales prices across Turkey increased by 63% in one year and 132% over two years. These figures highlight the robust demand for real estate in the country.
- Dollar Comparison: The Turkish lira depreciated against the US dollar by 56% annually and 97% over two years, but real estate prices outperformed these rates.
- Euro Comparison: The euro rose by 50% annually and 102% in two years, still trailing behind the growth of real estate.
Including rental yields, real estate investments delivered a total return of 71% in one year and 151% over two years, outperforming traditional foreign currency investments.
City-Specific Price Analysis
Istanbul: Turkey’s Economic Powerhouse
- 1-Year Growth: 75%
- 2-Year Growth: 122%
- Total Returns with Rent: 83% (1 year), 139% (2 years)
Antalya: The Rising Star
- 1-Year Growth: 78%
- 2-Year Growth: 178%
- Total Returns with Rent: 86% (1 year), 197% (2 years)
Izmir: A Coastal Gem
- 1-Year Growth: 55%
- 2-Year Growth: 115%
- Total Returns with Rent: 62% (1 year), 130% (2 years)
Ankara: The Capital’s Steady Rise
- 1-Year Growth: 50%
- 2-Year Growth: 101%
- Total Returns with Rent: 57% (1 year), 118% (2 years)
Bursa: Balancing Heritage and Growth
- 1-Year Growth: 56%
- 2-Year Growth: 103%
- Total Returns with Rent: 63% (1 year), 118% (2 years)
Comparative Overview
| Region | 1-Year Price Growth | 2-Year Price Growth | 1-Year Total Return (Incl. Rent) | 2-Year Total Return (Incl. Rent) |
|---|---|---|---|---|
| Turkey | 63% | 132% | 71% | 151% |
| Istanbul | 75% | 122% | 83% | 139% |
| Antalya | 78% | 178% | 86% | 197% |
| Izmir | 55% | 115% | 62% | 130% |
| Ankara | 50% | 101% | 57% | 118% |
| Bursa | 56% | 103% | 63% | 118% |
Real Estate vs. Currency Investments
| Currency | 1-Year Growth | 2-Year Growth |
|---|---|---|
| USD/TRY | 56% | 97% |
| EUR/TRY | 50% | 102% |
| GBP/TRY | 54% | 121% |
Conclusion
The 2024 real estate market in Turkey presents a unique opportunity for both local and international investors. With consistently high growth rates and strong rental returns, Turkish real estate continues to outperform traditional currency-based investments. Cities like Istanbul, Antalya, and Izmir are prime locations for those seeking lucrative investment opportunities.
For the latest listings, market updates, and expert advice, explore our curated portfolio of properties in Turkey.