International investment company Knight Frank (London) quarterly conducts a study of world real estate prices, identifying the cities with the most dynamic price growth. The purpose of the study is to measure the global growth rates of housing prices, as well as recommend the most promising cities and countries to real estate investors.
According to the study, the current ranking of growth rates (which included 150 cities) was topped by three Turkish cities at once. Izmir took the first place (with an annual increase in prices - 28.1 percent), the second - Ankara (26.4 percent), the third - Istanbul (20.2 percent). The average annual nominal growth in real estate prices in 150 cities remained at the level of 3.4 percent. 19 percent of cities recorded average annual price reductions, while 16 percent of cities recorded double-digit growth rates. So in the fourth place in the rating is Manila (the Philippines, the annual price increase - 18 percent), in the fifth - St. Petersburg with 16.2 percent.