Turkey Ranks 5th in Property Price Increase
The results of Knight Frank’s “Global House Price Index” study have been announced.
The countries where property prices have increased the most in order are:
Iceland (17.8 percent), Hong Kong (14.4 percent), New Zealand (13.8 percent), Canada (13.5 percent), Turkey (13.3 percent), Malta (12.6 percent), Czech Republic (11.5 percent), Estonia (10.7 percent) and Hungary (10.5 percent).
According to the survey, in the world as a whole, the average annual increase in housing prices in this period was recorded as 6.5 percent.
The index, which includes 55 countries, showed a double-digit increase in housing prices in 11 countries. In 48 countries, prices were on the rise, with 7 countries declining. Knight Frank showed that the main reason for the increase in prices is economic growth, that real estate is regarded as a safe haven, and that it is easy to access mortgage lending.