Turkey ranked first in the world in the increase in the investment value of its apartments during the first three months of this year, with an annual increase of 110%
Turkey is the first in the world to increase the investment value of its apartments
The residential apartments sector in Turkey witnessed a significant increase in prices, and it reached its peak during the past two years with the large movement witnessed by the residential apartments market, which led to the outweighing of demand over supply. Some other factors such as currency fluctuations played a role in the steady rise in apartment prices.
Local and international statistical reports have recorded a continuation of price increases this year as well, the latest of which was a report issued by the global real estate agency, Knight Frank, which dealt with the increase in apartment prices in more than 56 countries during the first three months of this year.
The investment value of Turkey apartments increased by 110%
In the details of the Knight Frank report mentioned above, Turkey ranked first in the world in the increase in the investment value of its apartments during the first three months of this year, with the annual increase in apartment prices in Turkey during the first quarter of this year reaching 110 percent.
While the Czech Republic came in second place with an annual increase in the prices of its apartments of 25.9% during the first quarter of this year, followed by Slovakia in the third place with an annual increase in prices of 22.1% during the first quarter of this year.
The top 15 ranks, according to the Knight Frank report, were as follows:
| the number | The state | Annual increase in apartment prices
During the first quarter of 2022 |
| 1 | Turkey | 110 % |
| 2 | Czech | 25.9 % |
| 3 | Slovakia | 22.1 % |
| 4 | Estonia | 20.4 % |
| 5 | Holland | 19.5 % |
| 6 | Hungary | 19.4 % |
| 7 | Iceland | 19.1 % |
| 8 | America | 18.8 % |
| 9 | Canada | 18.4 % |
| 10 | Latvia | 16.5 % |
| 11 | jersey | 16.2 % |
| 12 | Ukraine | 15.9 % |
| 13 | Australia | 15.8 % |
| 14 | Slovenia | 15.7 % |
| 15 | Ireland | 15.2 % |
On a related level, according to official statistics issued by the Central Bank of Turkey, the annual rate of increase in house prices across Turkey amounted to 145.5% during the fifth month of this year, and 127% during the fourth month of it.
As for the monthly increase in the prices of apartments during the fifth month, it amounted to 12.4%, and the average price of an apartment throughout Turkey during the same month reached 1 million and 194 thousand Turkish liras.
Antalya at the forefront of the Turkish states
In the details of the annual increase in the prices of apartments in various Turkish states, according to the aforementioned Central Bank of Turkey data, Antalya ranked first as the state that witnessed the highest annual increase during the fifth month of this year, with an annual increase of 180.3% .
Istanbul came in second place with a rate of 165.4%, then Adana and Mersin with an annual increase of 160.7% during the mentioned period, and the lowest annual increase was for the states of Elazig, Malatya and Bingol, where the rate of increase in these states was only 84.8%.