WALL – According to the research covering 150 cities in the world, Istanbul, Ankara and Izmir topped the list of housing price increases.
UK-based global real estate consultancy company Knight Frank has published the results of the global housing price index for the second quarter of 2022.
According to the report covering 150 cities in the world, Turkey’s three largest cities left their mark on the list. Looking at the price increase in the last year, Istanbul was the place where the houses gained the most value with 184.9 percent. Ankara was the second with 165.4 percent, Izmir was the third with 150.9 percent, and Miami was the fourth with 34 percent.
The fact that Turkish cities were at the top of the list was attributed to the fact that inflation reached 80 percent, increased construction costs and lack of supply.
ONLY 12 OF 150 CITIES HAVE A FALL
While 9 cities from the USA are among the top 20 cities with the highest increase in housing, the market is expected to weaken in the second half of the year.
According to the Knight Frank index, housing prices decreased in 12 of 150 cities.
In the world economy, which is dominated by recession fears, rising energy prices and geopolitical concerns, a correction is expected in the housing market with interest rate hikes. (NEWS CENTER)