Real Estate in Turkey rises in price unexpectedly

Prices on Turkish real estate do not fall

In brief: Rising prices of real estate resort towns in Turkey surprised analysts and experts real estate market.

The global fall in house prices was not reflected fully in the growing resort markets of countries with positive population trend. The fact is that real estate markets in Turkey, the Dominican Republic, the resort towns of Mexico and Egypt continue to stay in the green zone. Index of growth of the Turkish real estate exceeded 8% in the first quarter of 2010, which was European record for the market.

Buying property in Turkey at one time was an obsession for the inhabitants of the CIS countries, particularly Russia and Ukraine. After the first wave of the crisis the trend has changed, but not so much as the market of Spain or Greece. Buying became smaller by 30%, but prices, while not falling. Turkish builders did a very wise: the old construction with no Treasury objects were brought to mind slowly, ie underestimated the pace and price – no. Once the global price collapse did not happen and the deficit remained, buyers from other countries came to the market. The flow of investment in Turkish property has become smaller only by 7% over the same period of rough in 2008, which speaks for itself.

Anrey Torbinski
2010-06-09 18:50, Economics.

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