Turkey has the biggest increase in real estate prices.

Turkey has become the country with the highest increase in house prices. British real estate company Knight Frank has published an index of global house prices for the first quarter of 2023.

In the first quarter of 2023, which was the period of the slowest growth in global house prices since 2015, Turkey was the country with the highest growth. Turkey's 12-month house price growth time was 132.8%, with a 22.2% increase in the first quarter.

According to the report, which evaluated 56 real estate markets, home prices fell in 23 countries in the first quarter of the year. After Turkey, the country with the highest annual price increase was North Macedonia with 18.8%.

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It was followed by Croatia (17.3%), Hungary (16.6%) and Lithuania (15.3%). The most significant drop in prices was recorded in South Korea''(15.7%), New Zealand (13%) and Hong Kong (10.3%).

The report notes that price growth in Turkey is largely attributed to high inflation. It is noted that the 22% increase in prices in the first quarter of 2023 indicates a further rise in house prices.