Commentary:  Turkey’s Surreal Real Estate Bubble: On Its Last Legs?



Turkey’s Surreal Real Estate Bubble: On Its Last Legs?


  • Japan’s economic miracle ended with a real estate crisis in 1989. China seems to be on its way to “Japanification” because of a real estate bubble.


  • Global real estate prices are declining thanks to tighter financial conditions.


  • Turkey is one of the few outliers, with house prices rising by 60% in real and 80% in dollar terms YoY.


  • Could Turkey face the fate of Japan and China?


  • If so, WHEN? What would be the implications for the economy?


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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and and has contributed to the financial daily Referans and the liberal daily Radikal.