According to Knight Frank’s latest “Global House Price Index” survey, property prices in Turkey have increased by 13.3% over the last year.
The survey, which tracks property prices in 55 countries, revealed that prices have risen in 48 countries, with 11 of these, including Turkey, posting double digit increases.
The annual average increase, across all 55 countries, was 6.5%.
The Top 5 countries showing the highest increases were Iceland (17.8%), Hong Kong (14.4%), New Zealand (13.8%), Canada (13.5%) and Turkey (13.3%).
Knight Frank cited strong economic growth, the perception of real estate as a ‘safe’ investment and ease of access to mortgage credit as the primary reasons for the increase in prices.