One of the reasons for the rapid increase in Turkish property prices is the country's current challenge with high inflation. As of November last year, Turkey's inflation rate reached 61.98%. In such a scenario, many Turks see real estate investment as a means of preserving value.

Additionally, Istanbul has attracted a significant number of foreign investors, particularly Russians. Due to Turkey's high interest rates, reaching 42.5%, many people are compelled to use cash for property purchases.

However, in contrast to Turkey, most cities globally are grappling with affordability issues. The high costs of mortgage loans make it challenging for many to buy properties. Even in international metropolises like London, property price growth is relatively slow.

According to data, London's property prices rank 78th among 107 cities globally, with a 1.2% decline.

Europe has experienced the worst performance in property prices over the past year. Stockholm, Sweden, saw a 12% decrease in property prices, becoming one of the cities with the largest declines globally. Bratislava, Slovakia, experienced a 10.3% drop, and Frankfurt saw a 10.1% decline. These downward trends reflect the overall weakness of the European real estate market.

While the rapid growth in Turkish property prices presents investment opportunities for buyers, it also brings certain risks. High inflation and interest rates may increase the burden of property ownership, and the excessively rapid rise in prices could lead to an unsustainable bubble. Therefore, the Turkish government needs to carefully manage the real estate market and take necessary measures to ensure market stability and sustainable development.