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Turkey – the leader in the growth of world real estate prices

Turkey – the leader in the growth of world real estate prices

Turkey leads the world’s top 10 in home price growth in the fourth quarter of 2020, according to a study of the Global Residential Cities Index, published this week by the consulting firm Knight Frank.

Three Turkish cities (year-over-year price increase) led the global ranking of home price growth at once :

Ankara +30.2%
Izmir +29.4%
Istanbul (+27.9%).

In Turkey, housing prices are rising mainly because of high inflation in the country and the weakening of the national currency, according to Knight Frank. Another impetus for the rise in prices were affordable mortgages for the local population.

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