Housing Market in Turkey: “Earthquake concerns drive people toward new homes”

Housing Stock Surges as Earthquake Anxiety Grows

At the beginning of the year, the number of second-hand homes listed for sale in Turkey stood at around 500,000. Today, that figure has climbed to 636,000. Experts underline that the majority of these properties are over 30 years old and often carry earthquake risks. With seismic fears intensifying, homeowners are increasingly turning toward safer, modern residences.

Government-backed housing support packages are also expected to boost new construction, ultimately helping stabilize rental prices. If the current momentum continues, the real estate market could witness record-breaking levels by the end of the year.

From Old to New Homes

The trend is especially noticeable in major cities where residents of older apartments are eager to sell and move into earthquake-resistant properties. Field studies reveal that most homes listed for sale are over 30 years old, a clear sign that safety concerns are influencing seller behavior.

Real estate consultants note that since 2023, the “sell the old, buy the new” mindset has become a defining trend across the market. Earthquake awareness is pushing people away from outdated, risky structures and toward reliable alternatives.

Regional Impact and Market Balance

The most dramatic stock growth has been recorded in Ankara, where listings have increased by 32 percent since the start of the year. Istanbul and Izmir follow closely behind, while other Anatolian cities are showing similar tendencies.

Market representatives emphasize a growing imbalance between supply and demand. The number of sellers is outpacing buyer demand, creating pressure on the market. This surplus strengthens the hand of buyers in negotiations but also raises questions about future price movements.

Production as the Key to Affordable Prices

Housing prices remain one of the top public concerns in Turkey. According to industry experts, the only sustainable solution is to increase housing supply. If more homes are built and options expand, prices are likely to ease.

The government has launched a large-scale housing initiative through the Ministry of Environment, Urbanization and Climate Change, TOKİ, and Emlak Katılım. This program aims not only to provide affordable housing for low-income citizens but also to bring balance back to the market. Public investments are expected to encourage private developers, giving confidence to construction companies and accelerating new projects. Industry voices stress that “increased production will lead to lower prices,” highlighting the urgency of the initiative.

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