In a move that I doubt many people predicted Turkey has beat New Zealand to be named the country ranked first in the in the global estate price increase report. The report which is published by the UK global real estate company Knight Frank once ever quarter officially revealed Turkey to be the country with the highest housing price increase.
The news is even more surprising when you consider at the start of the year Turkish housing prices fell by around 14% but have since risen by 19% according the latest quarterly report.
So what does this mean for Turkey?
Well it’s great news of course! Because it shows there’s a strong and growing demand for property in Turkey and despite the rocky year Turkey as experience people are still very keen to live in Turkey. If we remove the impact of inflation from the listing Turkey stands at a still respectful 13th place in the rankings.
While it might not be as high as the number one spot it’s still very good news for Turkey when you take into account everything that has happened this year and the report shows strong signs that Turkey’s popularity will grow over the fourth and final quarter of 2016.
So who knows Turkey could very easily move into the official top ten in the next report and be ranked number 1 once again. Reports from Knight Franks also showed that overall house prices in Turkey rose by 18 percent in 2015 which was faster than anywhere else in the world, according to a global league table.
While this does show house prices are getting more expensive in Turkey it also shows that’s still a strong demand for property and that’s always going to be great news. And remember if you want to move to Turkey our great YellAli’s Foreigners Center as a variety of helpful service to help you make the move quickly and easily.