Turkey Remains World’s Top Real Estate Price Rising Country!
Turkish Real Estate Market shows enormous interest in terms of price stability and investment choice.
Real Estate Market in Turkey:
Turkey is an interesting country because of its transportation facilities, tourism, and entertainment opportunities, and convention tourism. Istanbul, as a renowned city, draws the attention of investors from all around the world. Istanbul, where Europe and Asia meet, emerges as a haven for real estate investments and is a rising star full of real estate opportunities, and stands out as a haven for high value-added and profitable real estate.
Turkey Remains World’s Top Real Estate Price Appreciation Country!
However, in real terms, once inflation has a decrease of 14%, annual price growth sits closer to 13% in Q3 of 2020. Overseas interest from the Middle East and a buoyant economy are maintaining prices, GDP gained 16% in Q3 compared to Q2.
New Zealand (15%) jumped from 11th to second place between Q2 and Q3 as the country saw demand increase post-lockdown. Residential sales totaled 8,618 in Q3 2020, up 41% from 6,112 a year earlier.
Ukraine (10%) and Russia (9%) have also moved up the annual rankings and now sit within the top ten.
Housing markets frozen in Q2 saw an increase in sales and prices in Q3 (New Zealand, UK, and the US).
Overall, the index continues to post annual growth of between 4% and 5.5% as it has done since early 2017.
Knight Frank further reports Ireland, Spain, India, and Hong Kong are amongst those countries witnessing the weakest price growth year-on-year.
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