"Rapid Property Price Surge: Europe's Tenfold Increase Since 2015"

Property prices in Turkey have skyrocketed, with apartment prices in Istanbul now rivaling those in cities like Paris and London. Factors contributing to this surge include currency fluctuation, inflation, and increased construction costs. The housing market has seen a significant influx of Russian buyers, driving up prices in certain locations. High inflation and interest rates have made mortgages unaffordable for many, leading to a surge in cash buyers. While property prices continue to rise in nominal terms, they are falling behind inflation, making real estate more affordable in the long term.