Turkish Real Estate Market Shatters Sales Record, Surpassing $3 Billion in State Revenue

The Turkish real estate market has officially set a new benchmark for performance and resilience, according to recently published figures from the Land Registry and Cadaster General Directorate (TKGM). The period between January and November witnessed a historic volume of property sales, totaling approximately 2.87 million units across the nation.

This achievement represents a significant 7.6% increase compared to the preceding year, decisively setting a new eleven-month record, and surpassing the previous high of 2.82 million sales recorded in 2022.

Robust Market Dynamics and Transaction Volume

Market activity remained exceptionally robust throughout the year. Analysis of monthly performance reveals year-on-year sales growth in eight of the eleven months, underscoring sustained market momentum. November alone saw substantial activity with 273,295 properties sold, reflecting an 8.6% annual rise. The nation’s land registry offices collectively processed an impressive 18.4 million transactions across all property categories during this period.

Economic Contribution and Fiscal Impact

The vigorous activity in the real estate sector has translated into a substantial fiscal contribution to the state. Revenue collected from transaction fees experienced a significant 73.7% year-on-year surge, reaching a total of ₺139.1 billion Turkish lira (approximately $3.2 billion). This impressive revenue stream, primarily generated from sales transactions, highlights the sector’s vital role as a key pillar supporting the national economy and public financial resources.

The record-breaking sales volume and corresponding financial returns strongly affirm the enduring confidence of both domestic and international investors in the Turkish property market, positioning it as a dynamic and reliable engine for economic growth.