Over 3 million properties sold in 2024

ANKARA

Türkiye's real estate market showed remarkable growth in 2024, with property sales reaching 3,065,872, a 3.9 percent increase from the previous year.

This surge in activity has significantly boosted government coffers, with deed fees soaring to 96.13 billion liras, marking a 60 percent rise from 2023.

Data from the Land Registry offices reveals that 18,726,979 transactions were processed nationwide in 2024. Of these, over 3 million were property sales, including homes, commercial spaces, and land plots. Other significant transactions included 1.35 million mortgages and 477,974 inheritance transfers.

Additional transactions included property mergers, donations, lifetime care agreements, and construction contracts, among others.

December proved to be the busiest month for real estate activity, with 2,072,000 transactions, while June saw the lowest activity at 1,075,000 transactions.

The increase in property sales has translated into substantial revenue for the government. Deed fees from property sales alone reached 91.59 billion liras, contributing to the total deed fee revenue of 96.13 billion liras in 2024.

Istanbul led the country with 357,873 property sales, followed by Ankara (209,244) and Izmir (144,183). These cities also topped revenue generation from land registry transactions, with Istanbul exceeding 27.5 billion liras.