House prices are rising in rapidly in Turkey but it is not as rosy as the article suggests. 1) The high debt levels vs the amount of unsold property suggests that the house prices being kept artificially high. 2) House price is $ terms have actually decreased as the $ has appreciated by more than 30% over the past year, so in dollar terms property is actually be worth less now than last year.
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House prices are rising in rapidly in Turkey but it is not as rosy as the article suggests. 1) The high debt levels vs the amount of unsold property suggests that the house prices being kept artificially high. 2) House price is $ terms have actually decreased as the $ has appreciated by more than 30% over the past year, so in dollar terms property is actually be worth less now than last year.