Istanbul is in the Second Place in the Increase in Prices of Houses

Istanbul has taken the second place based on the list of the twenty cities which has the highest increase in house prices of the world.

According to the report, which has been made by British Real Estate Company, Knight Frank, about the changes of price in 156 different cities based on the index of global dwelling cities , the highest increase for Turkey is seen in Istanbul as 25 %. In the study, in which the average of price increase around the world has been stated as 4,4 %, it has also been stated that the increase in Izmir is 16,5 %. Based on the list, Istanbul has the second place and Izmir has the 6th place around the globe. Ankara which has the last place for Turkey in the list, has 13th place with 12,4 % increase.

Ranks Have Changed in Turkey

Izmir Chamber of Real Estate Brokerage President, Mesut Guleroglu, in his statement to an AA pressman, says that the rank list, which was, respectively, Istanbul, Ankar and Izmir, has changed as Istanbul, Izmir and then Ankara. Guleroglu who has stated that there are various reasons fort his change, says: “ Investors choose Izmir from now on because of the high increase in prices in Istanbul. There have been built some high-rise buildings in the last 2-3 years around Bayrakli County: Manhattan Projects… Lots of residences have been built. This residence kind of constructions is another factor which increases the prices beside migration, population growth.

Opportunity for Small Investor

Guleroglu, stating that there is no substantial increase in second-hand house market unlike newly built houses, also says that there is stagnation in second-hand house sales beacause of the fact that small investors, who are in wish of buying a real estate, are waiting for the 1,20 % loan rate to go down to 1 % or less.

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