Is Turkey headed for a housing bubble?
Will Turkey’s housing sector, which leads the world in price increases, continue to attract foreign investors?
Over the years, the only sector in Turkey that hasn’t disappointed investors seeking high returns has been housing. The trend continues, although there are fears that it may be a bubble that could burst soon.
According to Central Bank data, housing prices in Turkey in January 2016 went up 17.5 % compared to January 2015. And the increase in Istanbul prices is about 22%, making Turkey the leader in the global list of housing prices.
According to Knight Frank’s “Global House Price Index 2015” report that compares 55 countries, Turkey is the country with the fastest rate of housing price increases with 18.4%.
What makes everyone wonder is why do the housing prices continue to climb at this pace despite the political and economic turbulences the country is experiencing?
