According to new research by PwC Türkiye, given rising housing demand and the current rate of supply, Istanbul needs an average of 122,000 new homes a year.
The metropolis of more than 15 million people will need about 1.22 million homes over the next 10 years; last year’s report put the figure at 1.23 million. Istanbul’s population is expected to grow about 3% to 16.2 million by 2034, while the number of households will rise 20% to 6 million over the same period.
This growth is driven mainly by the rise in single-person households, leading to smaller homes and higher demand for small flats such as studios. Ramazan Kumova, chairman of the Association of Housing Developers and Investors (KONUTDER), stressed: “Household structure and demographic composition are changing. But current regulations do not allow developers to fully meet this need, and this should be reconsidered.” In 2024, more than 239,000 homes changed hands in Istanbul. That year Türkiye’s housing market grew 20.6% year on year, with 1.48 million sales.
