In 2025‚ the market size for commercial real estate industry in Turkey stood at USD 99·1 Billion· According to IMARC Group‚ it is projected to reach USD 174·4 Billion by 2034‚ growing at a CAGR of 6·28% between 2026 and 2034· Rapid urbanization‚ increased foreign direct investment‚ and the pipeline of large infrastructure projects have gained momentum and demand continues for mixed-use developments‚ high-tech/logistics properties and tech-enabled office space in major cities‚ with domestic and foreign investors increasing their exposure to this sector·Request Sample For PDF Report: www.imarcgroup.com/turkey-commercial-real-estate-market/requestsample
Growth Drivers
The growth in metropolitan areas in Turkey is resulting in active demand for offices‚ shopping centres‚ and warehousing parks· According to statistics‚ in 2024‚ non-residential construction in Turkey rose by 11·1%‚ indicating a renewed activity for commercial and industrial construction projects· Government-led infrastructure projects‚ including airports‚ highways and intra-city transport networks are improving connectivity‚ and also driving property prices northwards· There were nearly 18·7 Million transactions in the property market in 2024‚ and over 3 Million of these transactions were for commercial properties‚ showing the depth and liquidity of the real estate market·
Key Trends in the Industry
The biggest shift has been mixed-use offices‚ with developers in Istanbul and Ankara increasingly including retail‚ commercial offices‚ residential buildings and‚ in some cases‚ smart-building technology in single projects· Logistics has also benefitted from 84% growth in online consumer spending in 2024‚ leading to more than 6·67 billion digital transactions that year· Investors are increasingly attracted to automated warehouses and last-mile fulfillment centers near urban populations‚ along with sustainability: Turkey is 10th worldwide in LEED certification‚ at more than 2 million square meters in 71 projects·
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Market Segmentation
Below is the segmentation as covered in the IMARC Group study.
By Type:
Rental
Sales
By End Use:
Offices
Retail
Leisure
Others
By Region:
Marmara
Central Anatolia
Mediterranean
Aegean
Southeastern Anatolia
Blacksea
Eastern Anatolia
Competitive Outlook
Local developers, global real estate funds, and institutional buyers are actively building portfolios across Turkey. Istanbul alone reported an office stock of 7.12 Million square meters by mid 2024, with occupancy reaching 89.7%, the strongest reading in twelve years.
Closing Thoughts
Turkey's commercial real estate sector is set to continue to grow steadily this decade‚ strengthened by infrastructure investments‚ strong foreign investment and a re-focus on sustainability· Logistics‚ retail and office assets are all performing well‚ offering both regional and global investors the opportunity to capitalize on the long-term commercial real estate potential of the country·