Turkish property prices growing fastest in world – Greece at other end of scale

Turkish property prices in Turkey increased by 18% last year, faster than anywhere else in the world, according to the Knight Frank Global House Price Index which recorded a global price increase of 3% for  2015 compared to 2.3% in 2014. “Increasingly viewed as a safe haven for Middle Eastern investors, Turkey is bridging East and West whilst also seeing strong population growth,” says the report, which was published on Wednesday.
Turkey was followed by New Zealand and Sweden, which saw growth of 14.2% and 12.3% Ukraine (down 12%)  and Greece (down 5%).  Belgium and New Zealand were the least affordable of the 55 countries included in the survey when house prices were compared with incomes. 
A total of 43 of the 55 housing markets tracked in the Global House Price Index saw prices rise, up from  the 2009 total of  10 countries at the height of the financial crisis.
“Our outlook for 2016 is muted, “said Kate Everett-Allen, international residential researcher at Knight Frank. “We expect the index’s overall rate of growth to be weaker in 2016 than 2015. The global economy is experiencing a potentially dangerous cocktail of low oil prices, a strong dollar and a continued slowdown in China.”