The real estate market in Turkey is estimated at USD 82 bln, with real estate stocks making up approximately 1.0 % of the total Turkish stock market.
In 2008 24,317 houses were sold in Turkey. There were 1.4 million sq m of modern office space in Istanbul in January 2008. At end-2008 the total number of shopping centres in the country was 225, of which 30%
were in Istanbul. At end-2008 Istanbul had a total of 824,000 sq m of Class A vacant warehouse and
production stock.
A total of 60,351 real estates on a combined area of 37.125 million sq m were sold to 70,336 foreigners as of January 2008. The value of retail real estate deals stood at around EUR 400 mln in 2007, compared to EUR 770 mln in 2006.