Turkish real estate market Outlook
Özkan Yıldırım, Partner, C&IP Leader, Deloitte Turkey
Turkey is a country whose growth potential is challenged with reverse capital flow pressure and regional political uncertainty. However, the demand drivers of the Turkish real estate sector such, as the country’s “crossroads” geographical location, urban renewal and development projects, strength in the construction sector and demographic advantage continue to support the Turkish real estate market. The Turkish real estate market, office and commercial property have outperformed over the past five years. Indeed the rental yields and selling prices for retail and residential prices have been continuing to grow since
2010. In the future, primary commercial properties in central areas are likely to attract investor interest. Real estate is one of the most significant drivers of the Turkish economy and will continue to be in future.