Housing Searches Reveal a Quiet Reset as End-Users Return to the Market

Turkey’s housing market is entering a new phase marked by changing buyer priorities and recalibrated demand patterns. Fresh data from ProjedeFırsat, a digital real estate platform that analyzes hundreds of thousands of user interactions, reveals a clear turning point in the second half of 2025. Investment-driven housing searches dropped by 27%, while owner-occupier–focused searches surged by 34%, highlighting a decisive move away from short-term speculation toward long-term living needs.

From Speculation to Necessity: A Structural Change in Demand

For years, investor appetite played a dominant role in shaping housing demand, particularly in major urban centers. However, ProjedeFırsat’s latest analysis—based on search behavior, saved listings, location preferences, and unit-type interest—shows that this balance is now shifting. The data points to a market where “buy-to-flip” expectations are fading, decision-making timelines are shortening, and home purchases are increasingly driven by practical necessity rather than future price anticipation.

This transformation is closely linked to broader market dynamics. The slowdown in rental price increases, combined with stagnant sales prices, has forced households to reconsider a long-standing dilemma: continue renting or move toward ownership. According to platform data, a growing share of users are now answering that question in favor of buying, signaling renewed confidence in purchasing as a viable long-term option.

Investors Retreat, Small Units Lose Momentum

One of the most striking findings of the report is the decline in investor-oriented searches over the past six months, down by more than a quarter. The segments most affected by this pullback are studio apartments and 1+1 units, which had previously been favored for their perceived liquidity and rental yield potential. Rising mortgage costs, weakening short-term return expectations, and tighter rental regulations have collectively pushed investors into a wait-and-see mode.

In contrast, end-user demand is gaining strength, reshaping the market’s center of gravity. Searches for homes intended for owner occupancy rose sharply, reflecting a shift toward longer-term life planning and stability. This change is evident in large metropolitan areas, where users are prioritizing functionality, livability, and household needs over compact, yield-focused layouts.

2+1 and 3+1 Homes Re-Emerge as Market Anchors

As investor interest in small units wanes, 2+1 and 3+1 apartments are reasserting themselves as the market’s balancing force. These layouts are increasingly seen as rational choices that align with both family living requirements and the evolving rent-versus-buy equation. ProjedeFırsat’s data indicate that users perceive these unit types as offering greater long-term value, flexibility, and sustainability than smaller alternatives.

This renewed focus on mid-sized family homes suggests that the market is normalizing after a period of distortion driven by speculative demand. Rather than chasing rapid appreciation, buyers are now weighing affordability, usability, and financial discipline—factors that naturally favor more spacious, versatile housing options.

The Rent–Buy Equation Tilts Again

Another critical insight from the analysis is the rebalancing of the rent–sale relationship. As rental growth moderates and sales prices remain relatively flat, the financial gap between renting and owning has narrowed. This environment is prompting households to re-evaluate long-term housing strategies, particularly those who had postponed purchasing decisions during periods of rapid price escalation.

ProjedeFırsat’s findings suggest that this recalibration is not merely cyclical but behavioral. Users are no longer driven by fear of missing out or speculative momentum. Instead, they are approaching housing decisions with a more explicit focus on budget discipline, predictability, and long-term sustainability.

Expert View: A New Normal in Housing Preferences

Commenting on the findings, ProjedeFırsat General Manager İrfan Erkmen emphasized that the market has reached a clear inflection point:

“Yatırımcı beklemede, oturumcu ise daha kararlı. Kullanıcı davranışları artık duygusal reflekslerle değil; tamamen ihtiyaç, bütçe disiplini ve sürdürülebilirlik odağıyla şekilleniyor. 2+1 ve 3+1 dairelere yönelim, geçici bir trend değil; piyasanın yeni normali olmaya aday. Bu tablo, konut sektöründe arz ve talep dengesinin yeniden tanımlandığını gösteriyor.”

This assessment underscores a broader conclusion: housing demand is becoming more realistic and needs-based, marking a departure from short-term expectations that once dominated the sector.

What This Means for the Housing Market Ahead

The implications of these trends extend beyond buyers alone. Developers, investors, and policymakers will need to adapt to a landscape where end-users set the tone. Project design, unit mix, pricing strategies, and financing models may all need recalibration to align with this emerging demand structure.

ProjedeFırsat’s data paints a picture of a housing market entering a more grounded and rational phase, where exaggerated expectations give way to measured decision-making. In the period ahead, those who recognize and respond to this new equilibrium—rather than clinging to outdated assumptions—are likely to shape the next chapter of the sector.