Turkey’s real estate market showed remarkable growth in 2024, with property sales reaching 3,065,872, a 3.9% increase from the previous year, according to the Turkish Land Registry.

This surge in activity has significantly boosted government tax receipts from purchase tax fees, which were 60% higher than in 2023.

Istanbul led the country with 357,873 property sales, followed by Ankara (209,244) and Izmir (144,183). These cities also topped tax revenue income from new land registry transactions, with Istanbul exceeding 27.5bn liras (£638m).