Turkey Luxury Residential Real Estate Market Size & Insights

According to MarkNtel Advisors study The future of Turkey Luxury Residential Real Estate Market size was valued at around USD 61.19 billion in 2024 and is projected to reach USD 87 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.11% during the forecast period, i.e., 2025-30. 

What are the Key Driver in the Turkey Luxury Residential Real Estate Market?

Rising Demand for Second Homes by Affluent Buyers – The luxury residential real estate sector in the country is fueled to a larger extent by the growing popularity of the country as a second home destination for wealthy clients. Its rich culture and cost-effective real estate along with its favorable climate are perfect for people who are looking for vacation villas in scenic places like; Bodrum, Antalya, and Çeşme mainly from Europeans, Middle Easterners, and Asians. Turkey's government also supports the enactment of citizenships, whereby one becomes a Turkish citizen, by investing USD 400,000 or more in such properties as foreign buyers having a strong preference for their second houses in this area. In addition, there are greater numbers of millionaires and billionaires in the country where the count of UHNWIs, jumped by 9.7% in 2023. This boosts demand for eco-friendly, health-oriented living spaces with private gardens, pools, and spas that align with what a wealthy house buyer prefers in his second home. Moreover, the flexibility in working remotely has enabled them to live away from city centers and thus purchase second homes in quiet locations.

What are the Key Segments in the Turkey Luxury Residential Real Estate Market?

The Turkey Luxury Residential Real Estate is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

• By Type
  • Flats- Market Size & Forecast 2020-2030, USD Million
  • Condominiums - Market Size & Forecast 2020-2030, USD Million
  • Penthouses- Market Size & Forecast 2020-2030, USD Million
  • Townhouses- Market Size & Forecast 2020-2030, USD Million
  • Villas & Mansions- Market Size & Forecast 2020-2030, USD Million
  • Others (Vacation Homes, Farm Houses, etc.) - Market Size & Forecast 2020-2030, USD Million
• By Furnishing
  • Fully Furnished- Market Size & Forecast 2020-2030, USD Million
  • Semi-Furnished- Market Size & Forecast 2020-2030, USD Million
• By Configuration
  • 1-2 Bedrooms (BHK)- Market Size & Forecast 2020-2030, USD Million
  • 3-4 Bedrooms (BHK)- Market Size & Forecast 2020-2030, USD Million
  • 5-6 Bedrooms (BHK)- Market Size & Forecast 2020-2030, USD Million
  • 7 & Above Bedrooms (BHK)- Market Size & Forecast 2020-2030, USD Million
• By Size (sq. ft.)
  • Less than 5,000 sq. ft.- Market Size & Forecast 2020-2030, USD Million
  • 5,000 - 10,000 sq. ft.- Market Size & Forecast 2020-2030, USD Million
  • 10,000 – 15,000 sq. ft.- Market Size & Forecast 2020-2030, USD Million
  • 15,000 - 20,000 sq. ft.- Market Size & Forecast 2020-2030, USD Million
  • Above 20,000 sq. ft.- Market Size & Forecast 2020-2030, USD Million
• By Price
  • 1–5 (USD Millions) - Market Size & Forecast 2020-2030, USD Million
  • 6-10 (USD Millions) - Market Size & Forecast 2020-2030, USD Million
  • 11-20 (USD Millions) - Market Size & Forecast 2020-2030, USD Million
  • 21-50 (USD Millions) - Market Size & Forecast 2020-2030, USD Million
  • 51- 100 (USD Millions) - Market Size & Forecast 2020-2030, USD Million
  • Above 100 (USD Millions) - Market Size & Forecast 2020-2030, USD Million

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Who are the Key Players in Turkey Luxury Residential Real Estate Market?

·       Sotheby's International Realty Turkey

·       Luxury Property Turkey

·       Barnes Türkiye

·       Avrupa Konutlari

·       Ağaoğlu Group

·       Yeni Levent

·       Özyurtlar Holding

·       Eroğlu Real Estate

·       Emlak Konut

·       ISTHOMES Real Estate

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Turkey Luxury Residential Real Estate Market News

November 2024: ARTAS Avrupa Konutlari will unveil an upscale residential project in Sisli, Istanbul by June 2025, featuring architecturally timeless buildings, luxury amenities, and excellent transportation links, promising high property value appreciation and Turkish citizenship eligibility.

November 2024: the DAP YENI LEVENT project has announced to offer of 950 apartments by March 2025, lush green spaces, and luxury amenities, ensuring comfort, excellent city connectivity, and Turkish citizenship eligibility.

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• Risk Identification: Pinpoint challenges to inform strategic planning.
• Future Forecasts: Prepare for market changes with actionable projections.

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