The statistical office of the European Union (Eurostat) shared the final data for the first quarter of 2022. According to these numbers, Turkey was the country with the fastest-growing home prices across all Europe over that period.
Residential property in the Republic of Turkey became 110% more expensive, while prices in 25 European Union countries included in the study rose by an average of 10.5%.
As for individual countries, the Czech Republic was in the second place with a 25% growth, followed by the Netherlands (19%), Germany and Bulgaria (12% each), Spain (9%), France (7%), and Italy (5%).
Prices of residential property grew the least on Cyprus (1%) and in Finland (4%).
Local analysts provide data much faster, although for the Republic of Turkey alone. For instance, Endeksa web portal reported that by the end of the first half year, home prices in Turkey already grew by 172% per annum. The country’s highest-demand districts are Beşiktaş and Sarıyer in Istanbul.