International real estate investors often view Türkiye with a mix of cautious pessimism and hopeful optimism. Positive demographic trends, substantial potential across key real estate sectors, and Türkiye’s strategic geopolitical position support a long-term bullish outlook. Applying the beta convergence hypothesis, sustained growth is conceivable if institutional reforms align with Western standards, enabling convergence in per capita output. Despite an average annual GDP growth of 5% between 2010 and 2022—outpacing the EU27’s 2%—Türkiye has lagged behind countries like Poland or Romania in real convergence. This shortfall is largely attributable to weak institutional frameworks, insufficient transparency, and regulatory shortcomings, which foster macroeconomic volatility and deter risk-averse investors.