Turkey is one of the leaders in prices hike of real estate!
Research confirms the positive impact of the new law to simplify the acquisition of real estate in Turkey, for citizens of several countries. From the date of the entry into force of the law (in August of 2012) 1162 square meters of real estate was purchased, which is 30% more than the same period last year. Leading as buyers Germans; Russians take the second place by number of sites (416 vs. "German" 775 real estate) and the third - in square meters (35 square meters against 789 thousand square meters). It is still a question if the law will affect the price raise, but according to the Global Property Price Index, Turkey is already one of the leaders in price hike. International company with London roots «Knight Frank» calculated that for the II quarter of the year, average Turkish square meter "gained" 10.5%, complying only to Brazil and Austria.
Economists predict the trend towards higher prices, and some even warn of the possibility of a bubble effect in the luxury housing market, as it was, for example, in London. This is especially possible on the background of the crisis of the European property. According to the same rating Bulgaria, Italy, Spain and Greece show negative growth. However, in addition to purely economic reasons, Spanish market, for example, is hampered by unscrupulous developers, attracting buyers with big discounts or cheap property, illegally built on the coast.
