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

  • tetris11@lemmy.ml
    2·
    2 days ago

    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.

    • amksenin@lemmy.worldOP
      0·
      4 days ago

      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

      • steeznson@lemmy.world
        2·
        4 days ago

        Argentina has made huge strides towards fixing their inflation whereas Turkey has a megalomaniac leader who refuses to even ackowledge it exists.