Tuesday , October 19 2021

Turkey is the world leader in rising house prices



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The British real estate consulting company Knight Frank announced the results of the global housing price index for the 2nd quarter. As a result, the index, which is calculated by calculating property prices in 55 countries and regions, increased by 9.2% in the second quarter of 2021 compared to the same period last year.

While prices rose by an average of 12% in developed countries, this figure remained at 4.9% in developing countries.

Turkey became the country with the fastest rise in property prices, with an annual increase of 29.2% among the 55 countries and regions included in the rating. New Zealand followed with 25.9% and the USA and Slovakia with an increase of 18.6% each.

Housing prices increase in the second quarter of 2021:

Series Country Annual increase (%)
1 Turkey 29.2
2 New Zealand 25.9
3 ABD 18.6
4 Slovakia 18.6
5 Sweden 17.2
6 Luxembourg 17.0
7 Australia 16.4
8 Canada 16.0
9 Netherlands 14.5
10 Russia 14.4
11 Denmark 13.3
12 United Kingdom 13.2
13 Zlanda 12.6
14 Norway 12.5
15 Austria 11.7
16 Lithuania 10.9
17 Germany 10.9
18 Chile 10.7
19 Peru 9.1
20 Portugal 8.6
21 Finland 8.3
22 Ukraine 8.3
23 Malta 7.9
24 Mexican 7.7
25 Bulgaria 7.5
26 Slovenia 7.3
27 Poland 7.2
28 Switzerland 7.1
29 Ireland 6.9
30 Singapore 6.8
31 South Korea 6.8
32 Belgium 6.7
33 Estonia 6.6
34 France 5.8
35 Israel 5.7
36 Hungary 5.3
37 Japan 5.1
38 Brazil 4.8
39 Croatian 4.6
40 Chinese 4.3
41 South Africa 4.1
42 Colombia 3.4
43 Hellas 3.1
44 Latvia 2.8
45 Hong Kong 2.6
46 The Czech Republic 2.2
47 Italy 1.7
48 Indonesia 1.5
49 Fas 1.2
50 Southern Cyprus 0.9
51 Romania 0.8
52 Malaysia 0.3
53 Jersey 0.0
54 India -0.5
55 Spain -0.9

House prices in Turkey have risen by 16.3% in the last 6 months and 8.9% in the last 3 months. Turkey was again at the top of the list in 6 and 3 month increases.

In the last 1 year, there has been a double-digit increase in property prices in 18 countries. Only Spain and India saw price reductions. Real estate prices fell by 0.9% and 0.5% on an annual basis in these countries, respectively.

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