Small analysis of growth of the price of real estate in Turkey
Turkey continues to amaze the entire world of incredible economic growth of the real estate market and rising prices for real estate of the country.
Someone sees this anomaly as rated by some experts Companies Turkey on the growth in property prices ahead of the world. Someone thinks this natural growth corresponds to the growth of the economy and a shortage of land in major Turkish cities.
According to the Global House Price İndex in March 2016 compared to March 2015 the price of real estate in Turkey increased by 15.3%. More about this, we wrote here.
The International Monetary Fund has included data more realistic, because his statistics take into account inflation. So according to the IMF the price of real estate in Turkey, adjusted for inflation increased by 10.48%. Thus, Turkey is on the 5th place in the world for the growth in property prices. The global economic crisis 5th place — more than decent.
According to some Turkish expert companies price of real estate in major cities of Turkey increased by 40% or even 50%.
According to experts played here and the economic development of the country as a whole and different situations in urban areas in particular.
Property in Antalya, Istanbul and Izmir rising in price due to, first of all, the deficit land and increase the well-being of local residents. Here, growth is inevitable, because no land and no longer. The crisis in tourism has not affected the real estate market in Antalya. Primary housing less, the secondary housing transactions increasingly occur. And the prices are higher.
In the eastern part of Turkey, the price of apartments is growing at the expense of refugees who acquire housing in the cities in the east. With the improvement of the situation in Syria, real estate prices in the east of the country, are likely to become relevant general secondary level.
You must also take into account the reduction of lending rates in the Turkish banks. Bids are reduced, so the real estate market in Turkey expects even stronger growth due to increased number of purchases in the housing mortgage.