Turkey tops global housing price index

Turkey saw the highest increase in housing prices worldwide in 2015, according to Knight Frank. The London-based global real estate company Knight Frank's report indicates a 18.4 percent increase in the housing prices in Turkey. Knight Frank's report said that connecting the West and East and having strong population growth, Turkey has gradually gained the reputation as a safe haven by Middle Eastern investors. The Global House Price Index published by Knight Frank covers 55 countries and indicates a 3 percent increase in housing prices globally. This proportion was 2.3 percent in 2014.

House sales increased 10.6 percent in 2015 compared to the previous year, according to data released by the Turkish Statistical Institute (TurkStat) on Friday. A total of 1,289,320 residential properties were sold last year.

Foreign interest was also higher in 2015. House sales to foreigners increased 20.4 percent in 2015 compared to the previous year. Istanbul was the most popular destinations for foreigners, while the country's top resort destination Antalya came second, followed by Bursa and Yalova in third and fourth, respectively.