Real Estate

Turkey is the leader in housing price increase

Turkey maintains its leadership in the world in housing price increase. According to Knight Frank’s data for the third quarter of 2021, the country with the highest increase in housing prices in the world was Turkey with a rate of 35.5%.

Turkey, which did not get enough of the record in housing sales in 2021, became the world leader in value increase. UK-based global real estate consultancy company Knight Frank, which published the third quarter data of the ‘global housing price index’, which evaluates 56 countries and regions, announced that the housing price was most appreciated in Turkey in the one-year period between the third quarter of 2020 and the third quarter of 2021.


Accordingly, house prices in Turkey took the first place in the list with an increase of 35.5% in the 12-month period between September 2020 and September 2021. According to the report, even after deducting 21% inflation, it is seen that the net value gain in housing is close to 15%. South Korea took the second place in the list with an increase of 26.4%, and New Zealand took the third place with an increase of 21.9%. Sweden, Australia, United States, Jersey, Netherlands, Slovakia and Canada were ranked in the top 10.


According to Knight Frank’s latest report, residences in Europe were valued at an average of 8%. According to the report, in September 2021, compared to September 2020, the housing price in Europe increased by 12.5% in Germany, 11.8% in England, and 10.4% in Austria. In Portugal, which competes with Turkey in Golden visa and citizenship, the appraisal in the same period remained at the level of 9.6%, while in Spain it was at the level of 2.5%. This rate was 8% in Greece and 7.5% in France. In Italy, it remained at the level of 0.4%.


Gokhan Tas, Head of COLDWELL Banker Turkey and Country, stated that Knight Frank’s third quarter figures are not surprising. Reminding that Turkey was in the first place in previous reports, Tas continued as follows: “Recognizing once again that real estate is the best investment tool after the pandemic keeps the demand for housing purchase alive. Even though we are the world leader in value increase, we still have a long way to go. Everyone buys this potential as well. “


NEVITA Chairman of the Board Faruk Akbal pointed out that when inflation is taken into account in countries such as Spain and Italy, there is a decrease in value instead of an increase in value. Akbal continued: “Spain, Italy, France and England had a heavy year in 2020, the pandemic year. Despite all this heavy picture, we saw incentives in the housing sector only in England during the epidemic period in Europe. Turkey, on the other hand, did not announce any significant incentives until the third quarter. Despite this, it continues to be the most active market in the number of housing sales.”

Source: Sabah / Translated by Irem Yildiz

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