Land Sales Slump in 2024 – Breaking News
Land sales declined in 2024, according to a recent report from CNN TÜRK. The real estate market, which had been booming for years, saw a decrease in demand last year.
In 2024, the sale of non-residential real estate, including land and field properties, dropped by 8 percent compared to the previous year. This decline was a significant shift from the trend of increasing sales in the years prior.
Real Estate Specialist Mustafa Hakan Özelmacıklı commented on the changing dynamics in the market, stating that legal regulations and changes in temporary housing status had caused some investors to step back from land investments. This shift in focus led to a decrease in sales of land properties.
On the other hand, housing sales saw an increase of 20 percent in 2024 compared to the previous year. Investors have started to show a preference for different types of properties, moving away from land investments.
Looking ahead, Özelmacıklı noted that there is a growing demand for housing, with a 20.6 percent increase in sales compared to the previous year. The market has seen a surge in interest in residential properties, with sales reaching 1 million 478 thousand figures in 2024.
Overall, the real estate market in 2024 has seen a shift in focus from land to housing properties, reflecting the changing preferences of investors in the industry.
