Turkey took first place both in terms of rising housing prices for relocators and in terms of the number of real estate bought by foreigners. These are the data of the global housing price index presented in the research of the Knight Frank group for the third quarter of 2022. The study finds out how much housing prices rose between the third quarter of 2021 and 2022, excluding inflation and also taking it into account.
According to the study, Turkey ranks first among the 56 countries included in the report. Here the price increase was 189%. The rest are far behind: Estonia is in second place with 27%. They are followed by Hungary, the Czech Republic and Iceland with 23%.
At the opposite pole, by the way, is South Korea – where prices fell by 8%. Also in the red are housing prices in Peru and New Zealand, which are hardly affordable for a large number of “relocators”.
The expert also calculated the real increase in prices adjusted for inflation. In the third quarter of 2022, the annual real increase in house prices in Turkey was 58%, they assure. In second place is Israel with 13%. At the same time, in 33 of the 56 countries, real house prices fell. For example, in Finland they decreased by 8% adjusted for inflation, and in Germany by 2%.
Turkey also excelled in cities – it owns three of the 10 cities in the world where housing prices rose more over the past year Total. These are Izmir, Istanbul and Ankara. Izmir is in second place with a growth of 30%, Istanbul is in ninth place with 26.4% and Ankara is in 10th place with 25.8%. Among the cities where foreigners buy housing, Istanbul is certainly in the lead; Antalya is in second place. In 9.5 years covering the period 2013-2022, foreigners bought 125,179 houses in Istanbul. In Antalya, this number was 7465.
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