According to a report by European News, Knight Frank International's Global Residential Price Index for the first quarter of 2023 shows that the average global house price increase is 3.6%, marking the lowest growth rate since 2015.

Turkey stands out among the top 150 cities globally, with three cities—Ankara, Izmir, and Istanbul—ranking first, second, and third with increases of 135.3%, 133%, and 127.3%, respectively.

As a country, Turkey leads the world in overall house price increases, with North Macedonia ranking second with an increase of 18.8%, followed closely by Croatia, Hungary, and Lithuania with increases of 22.5%, 16.6%, and 15.3%, respectively.

Meanwhile, some European countries experienced declines in house prices, with Germany, the UK, and Sweden seeing decreases of 1%, 3.1%, and 8.8%, respectively.

In addition, a report released by the Turkish Statistical Institute on August 3rd stated that the annualized inflation rate for July was 47.83%, while the independent inflation research group ENAG provided a figure of 122%.

In recent years, rents across Turkey have risen at an unprecedented pace, especially after a strong earthquake in the southern region of Turkey. Residents of the affected areas have gradually moved to neighboring provinces, further driving up rental prices in the receiving areas.

These data indicate that the real estate market in Turkey has undergone significant changes and is experiencing explosive growth at an astonishing rate. However, the persistently high inflation rate also highlights the challenges facing the Turkish economy.

These circumstances may raise concerns among investors and residents about the stability of the Turkish economy, necessitating government measures to regulate the market smoothly and ensure sustainable economic development and residents' quality of life.