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Among 150 cities in the world Istanbul ranks first in housing prices

According to the research carried out by one of the world’s leading real estate consultancy companies, Istanbul has been the city with the highest increase in housing prices in the last year. Ankara took the second place and Izmir took the third place among 150 cities. In the list where the first three are made up of Turkiye, there is Miami in the fourth place.

Housing price increases in 150 cities around the world were examined. Istanbul ranked first with an increase of 185%. Istanbul was followed by Ankara, Izmir and Miami from the USA.

According to the research of Knight Frank, one of the world’s leading real estate consultancy companies, housing prices increased by 165% in Ankara and 151% in Izmir between June 2021 and June 2022.

Nizamettin Asa, President of the Istanbul Chamber of Realtors, said that they had previously determined that prices were high in cities such as Ankara, Izmir and Antalya, especially in megacities.

HOUSING PRICES INCREASED THE MOST IN ISTANBUL

Saying that the increase in land prices and construction costs is an important factor, Aşa said that the demand for new constructions is very high, so there is a downward trend.

In the last year, the city with the highest increase in housing prices in the world was Istanbul.

ULUS, ETILER, BEBEK…

Besiktas leads the way in Istanbul. Neighborhoods of Besiktas such as Ulus, Etiler and Bebek became the settlements where prices increased the most in the world.

Old settlements such as Sariyer and Kadikoy follow Besiktas. According to experts, the famine in these regions, that is, the inability to find a house and urban transformation, are effective in the price increase.

Asa said, ”There is an increase especially in the regions where there are houses such as mansions and villas. Basaksehir is one of the places that attract attention in this regard. Especially since it’s a new district. Again, Beylikduzu and even a part of Avcilar have become important districts in terms of rising prices.”

Source: NTV / Translated by Irem Yildiz

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