Turkey is the first in the world to increase the investment value of its apartments

Turkey ranked first in the world in the increase in the investment value of its apartments during the first quarter of this year, with an annual increase of 110%

Turkey is the first in the world to increase the investment value of its apartments
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2022-08-12 Last update 2022-08-25

Turkey is the first in the world to increase the investment value of its apartments

The residential apartments sector in Turkey witnessed a significant increase in prices, and it reached its peak during the past two years with the large movement witnessed in the residential apartments market, which led to the outweighing of demand over supply. Some other factors such as currency fluctuations played a role in the steady rise in apartment prices.

Local and international statistical reports have recorded a continuation of price increases this year as well, the latest of which was a report issued by the global real estate agency, Knight Frank, which dealt with the increase in apartment prices in more than 56 countries during the first quarter of this year.

The investment value of Turkey apartments increased by 110%

In the details of the Knight Frank report mentioned above, Turkey ranked first in the world in the increase in the investment value of its apartments during the first quarter of this year, with the annual increase in apartment prices in Turkey during the first quarter of this year reaching 110%.

While the Czech Republic came in second place with an annual increase in the prices of its apartments of 25.9% during the first quarter of this year, followed by Slovakia in third place with an annual increase in prices of 22.1% during the first quarter this year.

The top 15 ranks, according to the Knight Frank report, were as follows:

Rank

Country

The annual increase in apartment prices during the first quarter of 2022

1

Turkey

110%

2

The Czech Republic

25.9%

3

Slovakia

22.1%

4

Estonia

20.4%

5

Netherlands

19.5%

6

Hungary

19.4%

7

Iceland

19.1%

8

USA

18.8%

9

Canada

18.4%

10

Lativa

16.5%

11

Jersey

16.2%

12

Ukraine

15.9%

13

Australia

15.8%

14

Slovenia

15.7%

15

Ireland

15.2%

On the other hand, according to official statistics issued by the Central Bank of Turkey, the annual rate of increase in house prices across Turkey amounted to 145.5% during May of this year, and 127% during April of the same year. As for the monthly increase in the prices of apartments in May, it amounted to 12.4%, and the average price of an apartment throughout Turkey during the same month reached 1,194,000 TL.

Antalya is at the forefront of the Turkish states

In the details of the annual increase in the prices of apartments in various Turkish states, according to the aforementioned Central Bank of Turkey data, Antalya ranked first as the state that witnessed the highest annual increase during May of this year, with an annual increase of 180.3%.

Istanbul ranked second with a rate of 165.4%, followed by Adana and Mersin with an annual increase of 160.7% during the mentioned period, and the lowest annual increase was for the states of Elazig, Malatya, and Bingol, where the rate of increase in these states was only 84.8%.

انجليزي: تركيا جنة الاستثمار انجليزي: تركيا جنة الاستثمار

Edited by Imtilak Real Estate ©

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