Turkey ranks second in the world in increasing apartment prices

Turkey came second in the world in terms of the increase in apartment prices, according to a report issued by the International Monetary Fund

Turkey ranks second in the world in increasing apartment prices
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2021-11-26 Last update 2022-01-05

Turkey ranks second in the world in increasing apartment prices

Imtilak Real Estate has followed up on the real estate report issued by the International Monetary Fund, through which it monitored changes in the prices of apartments around the world, follow the details with us.

Turkey ranks second in the world in the increase in the prices of its apartments

The International Monetary Fund issued a report entitled "Monitoring the housing sector for the year 2020", in which it monitors the changes in the prices of apartments in 58 countries around the world, indicating through this report which of these countries witnessed the highest percentage of increase, and which of them achieved the least percentage of decrease in prices Residential apartments during the last quarter of the year 2020.

According to the data of the aforementioned report, the rate of increase in the prices of apartments in Turkey in general during the second quarter of last year was 14.9%, and thus Turkey ranked second in the world in increasing the prices of its apartments, according to the data contained in the aforementioned International Monetary Fund report.

The first place went to Luxembourg, whose rate of increase in apartment prices during the mentioned period was 17.1%. The figures for the increase in apartment prices in some countries covered by the aforementioned report were as follows:

 

Country

The rate of increase in the prices of apartments during the last quarter of the year 2020

 

Canada

10,7%

Russia

9,1%

Portugal

9%

Austria

8,8%

The USA

8,7%

Germany

8,7%

France

6%

England

5,9%

China

2,2%

 

As for the countries that witnessed the largest decline in the prices of their apartments, according to the data contained in the aforementioned report, the United Arab Emirates topped the list with a decrease of 4.4% during the mentioned period, followed by India with a decrease in the prices of its apartments of 3.5%.

Turkey ranks second in the world in increasing apartment prices

Turkey ranks first in the rate of housing loan growth

Regarding the data on the growth rate of housing loans in the countries covered by the report, Turkey ranked first in the growth rate of housing loans during the last quarter of the year 2020, as the growth rate of housing loans in Turkey during the mentioned period reached 15.3%, followed by Russia with a growth rate of 15.3%. It reached 13%, and Serbia ranked third with a growth rate of 11.1%.

As for the countries that witnessed a decline in the rates of housing loans, Ireland was led by a decrease of 6%.

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The global price index for apartments broke a record high

In a related context, the International Monetary Fund report stated that the global housing price index broke a record by reaching its highest value since the beginning of the study of this index in the year 2000. The value of this index reached 167.2% during the last quarter of 2020, achieving an increase of 67.2% about its value at the beginning of its study in 2000, which was equal to 100%.

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Edited by Imtilak Real Estate ©

Reference: Zingat

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