Housing prices in Turkey increased more than in other countries
According to international consulting company Knight Frank, which published a rating of housing prices Global House Price Index, in Turkey, for the fourth quarter of 2015, the cost of this type of real estate increased by 18% compared to the figures for the same period in 2014. The main reason for that was the investments of investors from the Middle East.
Turkey is followed in the rating by New Zealand, where prices rose by 14.2%, and Sweden with an increase of 12.3%. And the real estate markets of Ukraine (- 12%), Greece (-5%) and Taiwan (-4%) became the weakest.
The increase in prices was observed in 43 of 55 countries surveyed. On average, according to Knight Frank, housing prices in the world increased by 3%, which is higher than the index of 2014, which amounted to 2.3%. At the same time the demand grew too: it was stimulated by the low interest rates. However, in 2016 the pace of growth is likely to slow down due to the difficult situation in the global economy – low oil prices, strong dollar and the crisis in China.