House price to salary ratio: Turkey 10 Russia 14 China 28 Iran 19 Syria 115 Argentina 17 – i think in these countries there’s no reliable stock market so people would invest in immovable properties
House price in city: Istanbul $3000/m2 NYC $18K/m2 Berlin $9K/m2 Paris $13K/m2 London $20K/m2 Even Baghdad is $3K/m2
Yes huge amount of locals left or leaving but Istanbul was the most visited city in the world in 2023 and the govt imported a ton of foreigners. And its CBI program is the most successful one in the world
PS. Can you ask this question in relevant subs of reddit? I don’t have an account there. Thanks
Hint; Check out the inflation and interest rates in Türkiye
Hint; Check out the inflation and interest rates in Argentina
also I am talking about not just now but also last 30 years. Its been always cheap even when inflation and rates were low
Argentina has made huge strides towards fixing their inflation whereas Turkey has a megalomaniac leader who refuses to even ackowledge it exists.
So that’s why it’s cheap?
Yes, combination of the exhange rate and external market factors
Can you write down a coherent sentence that answers the question?
The currency of Turkey is cheap and international investors don’t have any faith in their government to run the economy. The latter means that there is less foreign investment, so coupled with the aforementioned cheap currency, properties are cheap there.
I am on the wrong website.
Nobody wants to buy your dirt farm, buddy.
enflasyon ile düşük maaşlar nedeni ile bizim kiralar uluslararası alternatiflerle karşılaştığında düşük görünüyor ama ekonomik durumumuz yüzünden hala alınması zor, bu arada Türkiye ekonominin büyük bir kısmı genellikle inşaat sektörüne dayanıyor ve bu da, tekrar olarak, uluslararası alternatiflerle karşılaştığında daha ucuz görünüyor
Who is talking about rent ?
Are you able to see the content of my post ? It starts with “House price to salary” and it ends with “Thanks”
replace rent with purchase then
Due to inflation and low wages our rents seem low compared to international alternatives but it is still difficult to afford because of our economic situation, meanwhile a large part of the Turkish economy is generally based on the construction sector and this, again, seems cheaper compared to international alternatives
TTFY
Neresi ucuz amk aynı ülkede yaşadığımızdan emin misin?
The CBI program mostly brings in dirty money.
Türkiye invested heavily into construction industry in the last three decades, so new buildings coming pretty cheap.
Most Turkish cities doesn’t have urban planning and sprawl doesn’t stop at all. Istanbul Downtown’s two extents takes 2 hours with a car, without leaving the city.
Is this propaganda?
The question has the implication that something is wrong in Turkey. Propaganda wouldn’t want to imply that.
Who is paying me to represent who’s interest on this little website?
You tell me, buster! 🕵️♂️
Nah, j/k. But seriously tell Erdogan to piss off. ❤️
Property prices are driven by demand and supply.
I have little to contribute, but could you please share your date sources for the numbers started?
I would be interested to see how salary data could be aggregated reliably in countries with significant differences in population.
numbeo
Well they’re not built to any decent spec, and risk of earthquake is always high. Plus the president/lord has his fingers in every construction company in the country, so he makes money whenever one is built and when it falls down.
