With the global climate regime shifting towards market-based policies, carbon pricing has become central to economic decision-making processes through carbon taxes, emissions trading systems, and carbon credits. In the real estate sector, operational and embodied carbon have become key determinants of building life cycle costs and asset value. In this context, sustainable buildings generate a “green premium,” while carbon-intensive structures incur a “brown discount.” Energy efficiency measures, the use of low-carbon materials, and certifications are seen to have a direct impact on investor demand and financing conditions. International financial institutions' green building programs and resilience indices support investment decisions by providing a standard framework for measuring and reporting carbon. The study examines the integration of carbon markets with financial instruments, exploring their relationship with the real estate sector and proposing recommendations for Türkiye. The 2025 Climate Act, which establishes the national Emissions Trading System, is seen as a mechanism that will transform the cost structure of carbon-intensive inputs, particularly in the construction sector. The increasing visibility of embedded carbon costs, life cycle assessment, carbon footprint measurement, and green financing tools are becoming mandatory elements of real estate development processes. This transformation requires the redesign of policy frameworks to establish a market structure aligned with climate goals, while also creating new obligations, cost dynamics, and strategic compliance requirements for public authorities and companies in the sector.