Istanbul Real Estate
The Turkish housing deficit has been well-documented as the Central Bank of the Republic of Turkey has stated a requirement for 5.5 million extra homes in Turkey by 2015, 50% of which are needed in Istanbul in order to address the chronic shortage of property in the city.
The population of Turkey is 72.5 million today, and growing faster than all the countries in Europe, and is expected to increase to 83 million by 2023. Turkey has an extraordinarily young population, with half of it below 29 years old, according to TurkStat. The employed population makes up a remarkably large section of the total population, which has a great impact on economic growth.
Istanbul real estate market
Pressure on existing housing in Istanbul is set to increase, as the population is expected to rise from 12.7 million today to 15 million by 2023. One of the key issues driving the Istanbul real estate market is the serious housing shortage, meaning that more than 500,000 properties in Turkey, half of which are in Istanbul will be needed by 2015.
Istanbul Royal Estate is a leading real estate consultancy company that offers global opportunities to those willing to invest in the real estate market in Turkey. We specialize in finding properties all over the world, supported with wide range of services tailored for your needs. Our main focus is to provide the finest real estate service possible, with the highest standard of ethics, values and client care. Our services will always be carried out in such a way that clearly distinguishes us as the benchmark for excellence and as an acknowledged leader in the industry.