Turkish investors increasingly choose crypto over real estate

A new survey by Turkish crypto exchange Paribu reveals that Turkish investors are turning increasingly to cryptocurrencies as their preferred investment, even surpassing traditional assets like real estate. The ‘2024 Cryptocurrency Awareness and Perception’ survey, which included over 2,000 participants familiar with crypto, found that 30% of respondents now favour digital assets over real estate and stocks. This trend highlights a shift in Turkey’s investment landscape as investors seek the speed, accessibility, and potential returns offered by crypto.

Gold remains the top investment choice for 56% of those surveyed, while foreign currency and cryptocurrency follow closely. Interestingly, real estate dropped in preference from 30% last year to 26% this year, signalling a broader change in investor sentiment. Paribu’s research content manager, Nergis Nurcan Karababa, explained that the rise in crypto interest is also driven by institutional support, reflecting an optimistic outlook on crypto’s role in Turkey’s economy.

While cryptocurrency awareness in Turkey has nearly reached universal levels, with almost 99% recognising digital assets, understanding of blockchain technology remains limited, with 72% lacking basic knowledge. Despite this gap, Turkey has solidified its position as a global crypto market leader, ranking fourth worldwide. Regulatory support is expanding, with 47 crypto firms, including Bitfinex and Binance TR, applying for licences to operate under Turkey’s new regulations.