Turkey is the leader in housing prices increase

Turkey takes the first place in Europe according to the year increase in housing prices: from the first quarter of 2014 to the first quarter of 2015 the prices for residential real estate increased by 18.6%. This is 0.1% less than the figures the world leader, Hong Kong, has. These are the results of the Global House Price Index for the first quarter of 2015 presented by Knight Frank International Consulting Company.

The Global House Price Index has been tracing the housing prices dynamics since 2006 in 56 states of the world using official state statistics. From the first quarter of 2014 to the first quarter of 2015 the residential real estate prices increase in the world appeared to be the lowest for the last three years: only 0.3%. Herewith, trends are obviously changing. European countries, holding strong positions in the second part of the ranking in the recent years, are coming to the first positions again. Turkey is followed by Ireland (16.8%), Luxembourg (12.1%) and Estonia (11.0%). However, Cyprus, Greece, France and Italy are top ten of world real estate markets prices for which are decreasing.

The bottom place in the ranking of residential real estate prices increase for the period from the first quarter of 2014 to the first quarter of 2015 goes to Ukraine with 15.5% index, Cyprus (-8.2%) and China (-6.4%).

28.07.2015

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