Turkey excelled lot of developed countries in the price range of luxury properties.
Turkey has the most increased prices in real estate with a 18% growth. In Knight Frank’s report, it is stated that ‘Turkey is the port for the investors in Middle East.’
The construction sector is developing rapidly in Turkey. Real estate prices are increasing as the economy sector is increases every day. Most think think and say that ‘this boom will not last long’. But, according to the leading representatives of the sector, there is room for even more development for the real estate price increase in Turkey.
The demand is the main reason for this increase, says the top brass of the management of these firms. Especially, foreign luxury real estate buyers are on the rise. There are also lots of loyal clients in the local sector. Along these statements, Knight Frank states that ‘Turkey combines the West and the East. It also has a strong population increase. Middle Eastern investors will be more demanding to make an investment in Turkey".
Average Globally Increase is % 3
In Europe, the increase in price range is doubles Turkey, Estonia, Luxemburg and Ireland. From the 55 countries that are analyzed, 42 countries has increasing real estate prices. On the global level, the prices increased an average of % 3.
Reasons for the price increase are stated as:
- Land and construction equipment prices are increasing
- Middle Eastern investors rely on Turkey to invest
- Turkey has the stability in terms of economy
- Real estate credits are on demand
- Istanbul is seen as a brand new city all over the world
- Transportation Projects are continuously being made in Turkey