Turkey Property Market 2024

 The Future of Real Estate Investment in Turkey 2024

Table of Contents:

  1. Turkey's Booming Real Estate Market
  2. What's the Real Estate Market Status in Turkey in 2023?
  3. Price Expectations for Turkish Real Estate in 2024
  4. Types of Real Estate Investments in Turkey 2024
  5. How to Obtain Turkish Citizenship?
  6. Getting Property Residence in Turkey
  7. Key Factors for Successful Real Estate Investment in Turkey
  8. Major Real Estate Projects in Istanbul 2024
  9. Required Documents for Property Ownership in Turkey
  10. Returns on Investment in Turkey 2024




People from 183 countries worldwide were allowed to buy property in Turkey for homes or investments starting in mid-2012 when the Turkish Parliament removed ownership restrictions. From 2012 to 2023, Turkey's real estate investment sector has grown as foreigners bought properties for investing, showing significant progress and prosperity.

Turkey's Citizenship by Investment law, passed in 2017 with amendments in 2018, 2019, and 2022, has improved real estate investment chances. With government incentives and recent developments, real estate investment in Turkey remains appealing.


Turkey's Booming Real Estate Market:


تركيا السوق العقاري الأفضل


Investing in real estate is seen as the top method to protect capital, as property values rise over time, drawing investors to Turkey's expanding real estate market.

Many investors in Turkey aim to capitalize on properties through renting, living in them, or selling when values rise. The Turkish real estate market has been lively in recent years, witnessing positive price increases that enable previous property owners to gain significant profits.

The rising demand for real estate in Turkey, along with population growth, adds to the success of real estate investment. Foreign investors' desire to own properties in Turkish tourist cities continues to bolster this investment sector.

Highlighting the investor incentive of acquiring Turkish citizenship through a $400,000 property buy, with a commitment not to sell for three years, encourages more individuals to take advantage of this significant benefit.

Concerning future opportunities in the Turkish real estate market, the main focus is on the diverse possibilities, with an emphasis on the anticipated property return over a specific period. Modern, high-demand real estate products have proven to be the best investment opportunities in terms of returns.

Making smart choices and timing are crucial for seizing real opportunities, highlighting the significance of experience and intelligence in making well-timed investment decisions. Consulting with experienced professionals is recommended for investment choices.


Challenges in the Real Estate Market 2024:

Despite enduring inflation challenges in Turkey, affecting citizens' purchasing power and dampening their interest in property purchases, positive indicators suggest a decline in inflation at the start of 2024.

Rising interest rates may shift investor preferences from real estate to banking investments. Moreover, political stability is vital for real estate market stability, and unforeseen political changes could have a negative impact on the economy and the real estate market. With Erdogan and his party winning a new term, Turkey is expected to experience stability in the near future.

Despite challenges, Turkey remains among the world's most attractive real estate markets, offering investors the chance to meet substantial financial returns through unique investment opportunities.


The State of the Real Estate Market in Turkey 2023:

In 2023, the estimated value of the residential r

eal estate market in Turkey is around $89.11 billion USD. Anticipated growth is expected to reach $151.23 billion USD by 2028, driven by a compound annual growth rate (CAGR) of 11.16% during the projected period (2023-2028).



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Explore the Best Properties in Istanbul


Price Expectations for Real Estate in Turkey 2024:


The real estate price cycle in Turkey consists of four main stages, cyclically repeating. Here's an explanation of each stage:

1. Prosperity and Recovery Stage:

- Begins after a period of recession and declining property sales.

- New offerings attract major investors.

- Construction pace accelerates, gradually reducing supply.

- Prices stabilize with increased demand balanced with supply.

2. Expansion Stage:

- Real estate production widens to meet growing demand.

- Property prices rise due to increased demand.

3. Saturation and Accelerated Supply Stage:

- Supply increases and accelerates.

- Supply equals the abundant demand.

- Property prices and rents stabilize, ceasing to rise.

4. Recession Stage:

- Supply surpasses demand.

- Property prices and rents decline.

- Accumulation of vacant properties occurs.


Will the Value of Real Estate Apartments Rise in Turkey in 2024?

Real estate experts in Turkey anticipate the continuation of rising property prices in the current stage. Despite slight expectations of a decrease in some areas, overall prices are expected to remain elevated. Experts attribute the rise in property prices in Turkey to a supply issue linked to global inflation indicators in construction material prices. This contributes to continuous upward pressure on property prices in the coming period.

Despite challenges in purchasing power, the significant gap between supply and actual demand creates a balance, contributing to price stability in the real estate market. Furthermore, the anticipated future population growth is expected to increase demand, providing additional strength to the real estate market in Turkey.

Damas Group Real Estate provides various options that align with property residence requirements, ensuring all opportunities are within your reach. Our exceptional team, including experienced and qualified lawyers, is committed to assisting you in reaching your goals.


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Types of Real Estate Investments in Turkey 2024:


Investing in real estate in Turkey is notable for its diverse opportunities and the potential to attain sustainable financial gains. Real estate investments come in various types to meet investor needs, offering opportunities for diversification and increased profitability.

The key to success in this investment is choosing the right locations and properties that offer desirable investment advantages. Working with a trusted real estate consultant in Turkey is crucial to ensuring informed decisions and success in this field.

1. Investment in Commercial Properties in Istanbul 2024:

- Investment in commercial real estate in Turkey encompasses a wide range of opportunities and challenges. This category encompasses commercial facilities like offices and retail spaces, showcasing the strength of the Turkish economy and contributing to the robustness of the commercial market.

- Many people take part in business activities in Turkey, either by establishing companies or investing in various fields like import and export. The need for commercial spaces like offices and shops increases to meet business demands.

  • Ongoing commercial activity and the increasing population and residents in Turkey fuel the demand for commercial real estate. Therefore,Buying and leasing commercial properties are common and effective investment options in Turkey.


2. Investment in Residential Properties in Istanbul 2024:

- Investing in residential real estate in Turkey is considered a lucrative option that provides good returns. This investment diversifies into two main types:

- Investment in Ready Properties:

- Involves purchasing a ready property in Turkey, whether an apartment, villa, or hotel apartment system. After obtaining the property, it's possible to find a suitable tenant for leasing through annual, monthly, weekly, or even daily rental contracts. This type of investment allows investors to generate steady rental income.

- Investment in Under-Construction Properties:

  • Preferred by investors seeking higher profit margins through increased investment value. This involves purchasing a property under construction or not yet started, marketed with plans and models. This investment type demands patience as the investor awaits the completion and delivery of construction by the contractor. The profit comes from the price difference between the under-construction property and the ready property when reselling.


we explained alot about this topic in the following article Click here  


How to Obtain Turkish Citizenship?


The Turkish Citizenship by Investment program, initiated in 2017, is regarded as one of the fastest and easiest ways to acquire a second passport. Initially, the minimum investment for real estate was one million USD, but the Turkish government later reduced it to 250,000 USD in 2019. However, in April 2022, the government increased the minimum investment for real estate to 400,000 USD.

The application process is simple and straightforward, with clear procedures. You can take advantage of the opportunity to obtain Turkish citizenship within a period not exceeding six months.

Various investment options are available, such as investing 400,000 USD in real estate, depositing 500,000 USD in cash in a Turkish bank, or purchasing government bonds worth 500,000 USD.


At Damas Group Real Estate, we use our extensive experience in the real estate industry to assist you in submitting your file and . This ensures you avoid any mistakes that could result in the rejection of your residence permit application.


Here is a more details article about the Turkish Nationality Click here



Getting Property Residence Permit in Turkey:

1. Property Residence Permit:

- Allows foreigners to reside in Turkey, provided they own property in the country.

- Issued by the Immigration Office, allowing the person to enter and exit Turkey without the need for a visa.

- Renewable annually for the property owner and their family.


2. Required Documents for Property Residence Permit:

- Valid passport for at least six months, translated into Turkish and certified.

- Title deed of the purchased property in Turkey.

- Property valuation from an accredited company.

- Earthquake insurance (DASK) for the property.

- Family statement for the property owner's family.

- Health insurance for each family member.


3. Who is Eligible for Property Residence Permit?

- The property owner in their name.

- Children of the property owner who are under eighteen.

- The spouse of the property owner.


4. Steps to Obtain Property Residence Permit:

- Purchase property worth $200,000 USD.

- Schedule an appointment and specify the type of residence permit.

- Pay property residence permit fees.

- Attend the interview and submit the required documents.

- Receive the residence permit card by mail upon approval.


Read more about obtaining residency in Turkey Click here




Key Factors for Successful Real Estate Investment in Turkey


To ensure a successful real estate investment in Turkey at any time, here are some tips you can follow:


1. Choose Your Location Wisely:

- Research the real estate market in Turkey thoroughly.

- Choose a strategic location with development and growth potential, along with amenities such as transportation, schools, and hospitals.

- Consider new areas or upcoming real estate projects as excellent investment opportunities.


2. Select Your Property Wisely:

- Identify the type of property that aligns with your investment goals, whether it's a residential apartment, villa, or commercial property.

- Look for properties with high future value, ensuring they meet the needs of the local market.


3. Seize the Right Price Opportunity:

- Check market conditions and economic expectations to identify the right time to buy.

- Tough economic times may present good opportunities to find investment deals at lower prices.


4. Look for Additional Returns:

- Seek additional returns, such as long-term rentals or the potential for profitable sales.

- Explore projects that offer additional amenities like pools or fitness centers to enhance the property's appeal.


5. Collaborate with Professionals:

- Seek assistance from reliable local real estate advisors to make informed decisions.

- Connect with local real estate agents for advice on the market and opportunities.


6. Diversify Your Investments:

- Diversify your investments by purchasing properties in different areas or different types to minimize risks.


Top Real Estate Projects in Istanbul 2024




Property Code Property Type Starting From Location
D-008 Ready-to-move villa complex with sea views $186,727,198 Istanbul - Buyukcekmece
D-022 Under-construction villa complex for investment $87,892,386 Istanbul - Bahcesehir
D-043 Under-construction villas with very luxurious finishes, garden, and private swimming pool $104,129,534 Istanbul - Beylikduzu
D-048 Luxury villa complex with panoramic views of the sea $125,661,403 Istanbul - Buyukcekmece
D-050 Under-construction investment villa complex $94,246,053 Istanbul - Bahcesehir
D-062 Under-construction luxury villas with beautiful sea views $77,655,923 Istanbul - Buyukcekmece
D-074 Luxury villa complex with sea views $88,245,368 Istanbul - Buyukcekmece
D-083 Villas with sea views $167,666,198 Istanbul - Buyukcekmece
D-086 Luxury villas with sea views $79,420,831 Istanbul - Buyukcekmece



Required paper work to own a property in Turkey 


الأوراق المطلوبة للطابو


Required Documents for Property Ownership in Turkey:


1. Title Deed (Tapu): The title deed is a crucial document proving your ownership of the property. It contains detailed information about the property unit.

2. Real Estate Appraisal Report: Obtain an appraisal report from an authorized appraisal company to determine the property's value. This report is usually required by the Land Registry Directorate.

3. Earthquake Insurance Document: Obtaining earthquake insurance (DASK) is a standard procedure to secure the property.

4. Original Passport: The buyer must provide their original passport. It is advisable to bring a translated and notarized copy, if needed, by a notary public in Turkey.

5. Biometric Passport Photos: Both the seller and the buyer need biometric passport-sized photos (4x6 cm). Some may need to be translated and notarized if one of the parties is not familiar with the Turkish language.

6. Sworn Translation: In case one of the parties is not familiar with the Turkish language, sworn translations of official documents must be provided.


Return on Investment from Real Estate in Turkey 2024:


Real estate in Turkey typically maintains stable value, presenting a sustainable and profitable investment opportunity in various times and locations. Investors opting for tourist or attractively landscaped areas can potentially secure additional returns due to the rising demand for properties in these locations.

Should an investor choose to sell the property rather than renting it, they may realize an annual profit of approximately 22% above the original property price. Profit in this field depends on how the investor manages their strategy and can be lucrative in the long term. Confidence in real estate investment in Turkey relies on the stability of returns and gains over time.


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- Studio Apartments: Features and drawbacks, click here...

- Real Estate Residency for Arab Communities, click here...


Keys to finding related properties:

- Apartments for sale in Istanbul

- Government-guaranteed properties

- Properties with special installment plans

- Villas for sale in Istanbul

- Properties for sale in Başakşehir


داماس جروب العقارية


We, at Damas Group Real Estate, bring you the best property options for sale in Ankara, Turkey in 2023. We're here to help you seize the best investment opportunities in major construction projects and residential complexes at competitive prices.

Our services include providing all kinds of legal and real estate consultations, obtaining property deeds, and assisting you in acquiring Turkish property residency and citizenship, along with other post-sale services.

Feel free to reach out to us to learn more!



Investment in residential real estate such as apartments and villas. Investment in ready-made or under-construction construction projects.

Turkish citizenship can be obtained through a real estate investment of a certain value, specifically by purchasing a property worth $250,000 US dollars or more.

Opportunities: Stability in property values, the possibility of obtaining Turkish residency or citizenship. Challenges: Fluctuations in exchange rates, changes in government regulations.

Yes, changes in conditions and requirements can occur, and this requires keeping track of updates to the laws.

That depends on the investor's goals and preferences. Investing in real estate, especially in tourist areas or areas with beautiful landscapes, may be a good option. Investing in businesses or the industrial sector could be other choices.

هل الاستثمار في تركيا آمن؟

Yes, Turkey is considered one of the popular and safe investment destinations. However, as in any real estate market, investors should conduct research and verify local conditions, laws, as well as political and economic developments.

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