Izmir, which is the new address of the housing producers in the recent period, has also become a trend in the world. According to a report by global real estate consultancy firm Knight Frank, Izmir is the second city in the world with the highest increase in housing prices. The price increase in İzmir was 18.5 percent on an annual basis, with Berlin taking the first place with 20.5 percent.
Many Construction Companies Invest in Izmir
For many years the center of the real estate industry was Istanbul. However, the limited supply of land and the demand from other sources led companies to new addresses. Izmir is at the beginning of these list. The Izmir-Istanbul Highway Project, which aims to reduce the road transportation between İzmir and Istanbul to 3-3.5 hours from 9 hours, resulted in the increase of real estate investments in the Izmir. Besides Izmir real estate companies, many companies such as Dap Yapi, Teknik Yapı, İş GYO, Turkerler have chosen Izmir for investment.
Increase in 18.5 Percent
The recent report by UK-based Knight Frank, one of the most important real estate consulting firms in the world, actually summarizes the reason for this interest. Exploring the price movements in 150 cities around the world, Knight Frank explained the cities with the highest housing prices in the world with the report titled “Global Residential Cities Index“. İzmir, which is the point of view of real estate companies, also ranked second in this list and became the owner of the second city title which increased the house prices most in the world in 2017. According to the report, housing prices in Izmir increased by 18.5 percent per year.
4 Cities from Germany
During the first 10 of the list, the weight of the German cities was hit by the crowd, with Berlin at the top with 20.5 percent. Reykjavik became the capital city of Iceland after the second place in İzmir. These cities are respectively; Vancouver, Budapest, Hong Kong, Hamburg, Munich, Rotterdam and Frankfurt.