Real estate sales in Turkey surged in 2024, increasing by 20.6% compared to the previous year, with 1,478,025 properties sold. This growth was driven by lower interest rates offered by banks, boosting the real estate market significantly.
The Esenyurt neighborhood in Istanbul recorded the highest property sales in Turkey with 31,263 units sold, surpassing 67 Turkish provinces, including Trabzon and Diyarbakır. Annual rental yields in Esenyurt ranged between 8% and 9%, with a payback period of 11-12 years, while average monthly rents were between 12,000 and 13,000 Turkish lira.
On the other hand, some neighborhoods saw very low sales. Alacakaya in Elazığ had the lowest property sales, with just 26 units sold, followed by Harmancık in Bursa with 34 units and Dodurga in Çorum with 35 units.
Top-Selling Neighborhoods in Turkey for 2024:
- Esenyurt/Istanbul: 31,263 properties
- Şehitkamil/Gaziantep: 22,552 properties
- Çankaya/Ankara: 21,671 properties
- Kepez/Antalya: 20,932 properties
- Nilüfer/Bursa: 20,528 properties
Source: Turkey Now
