Unlike residential real estate, the demand for which decreased in autumn and winter, there is no slowdown in the land sales segment. On the contrary, there is growth. Moreover, many Turks who cannot afford to purchase residences choose a way to buy land plots.
As a result, there were record land deals in 2023, and land prices rose by 150% compared to last year.
Another trend is that Turks living in Europe have started buying up land in Turkey as well.
The largest number of land transactions in 2023 was recorded in Çatalca: over 50,000 deals. Çanakkale ranked second (about 30,000 deals). There has also been a significant increase in the number of land transactions in Tekirdağ, Izmir and Antalya.
Moreover, the share of foreign investors in the total volume of buyers amounted to 15% last year, despite the fact that this figure fell to less than 3% in the housing segment. Foreigners acquired almost 30 million square metres of space for various purposes in Turkey in less than last year.