Turkey achieves a global record in apartment price increases during 2022

Knight Frank International Real Estate Agency has released its periodic report on the increasing index of apartment prices around the world during the third quarter of last year, 2022.

The data in the mentioned report showed that Turkey topped the list of 56 countries included in the study, with an increase in apartment prices reaching 189.2% during the third quarter of last year, 2022.

Turkey surpassed the second place by seven times

In the details of the annual increase, Estonia ranked second with an annual increase of 27.3% during the mentioned period. Thus, Turkey achieved a rate seven times higher than the increase recorded in Estonia.

Hungary ranked third with an increase of 23.7%, followed by the Czech Republic and Iceland in fourth place with an annual increase of 22.6%. Slovakia came fifth with an increase of 21.9% during the year preceding the third quarter of 2023.

The increase rates in the top ten countries were as follows:

As for the countries that witnessed a decrease in apartment prices during the mentioned period, North Korea was at the top with a decrease of 7.5%, followed by Hong Kong in second place with a decrease of 7.1%, and Peru in third place with a decrease of 4.7%.

Istanbul, Ankara, and Izmir also topped the world's cities

In another part, the Knight Frank report tracked the increase in apartment prices in 150 cities around the world during the year preceding the third quarter of the past year.

It was remarkable that three Turkish cities topped the list of global cities in the increase of apartment prices during the mentioned period. Istanbul ranked first with an annual increase of 212.1% during the year preceding the end of the third quarter, followed by Ankara in second place with an annual increase in apartment prices of 196%, and Izmir in third place with an annual increase of 185.8% during the mentioned period.

The increase rates in the cities that occupied the top ten positions were as follows:

Edited by: Imtilak Real Estate©

Did you like our topic? You can share it with your friends!