TL;DR

  • The newsletter reports large cumulative gains in Turkish cities, Chiang Mai and Montenegro’s coast.
  • Low starting values do not prove local affordability or easy resale.
  • Ownership rights, currency exposure and liquidity require location-specific checks.

Some of the largest three-year increases in Global Property Guide’s Q3 2026 newsletter appear outside the destinations that dominate international property marketing. Turkish provincial cities, Chiang Mai and Montenegro’s coast all feature prominently. The figures challenge familiar assumptions about where growth occurs, but they also show why an impressive percentage should begin a due-diligence exercise rather than end it.

The newsletter reports a 93% three-year increase in Kayseri, followed by Ankara at 77%, Bursa and Konya at 73%, and Adana at 71%. Chiang Mai recorded 70%, while the Montenegrin coast gained 79%. These are cumulative movements in the publisher’s currency-converted asking-price series. They are neither annual growth rates nor evidence of the proceeds that every seller could realise.

What the comparison measures

Lower starting levels can produce eye-catching percentage changes. Yet a market’s position near the affordable end of an international comparison says little about its affordability to local households. A property may seem inexpensive to a foreign buyer while already stretching the budget of the domestic buyers who would eventually form its resale market.

Turkey illustrates the need to examine the measuring currency and inflation together. A dollar-based comparison cannot, without additional data, show how much local housing values changed after inflation or how exchange-rate movements shaped the result. Buyers should request consistent local-currency transaction evidence rather than using a foreign-currency ranking as a substitute for domestic market analysis.

Chiang Mai requires a different set of practical questions. The legal rights attached to a condominium, land or a lease are not interchangeable. An overseas purchaser should obtain current independent advice on the exact ownership structure, any applicable foreign-ownership conditions and the enforceability of the proposed arrangement. This article does not establish eligibility for any particular buyer or property.

What buyers should investigate

For Montenegro’s coast, locality is especially important. A coastal aggregate can combine places with different transport access, seasonal demand, building quality and infrastructure. Buyers need to distinguish year-round occupancy from holiday use and verify whether an advertised rental strategy is legally and operationally feasible. A view or tourism narrative cannot replace evidence of actual tenant demand.

Liquidity is the common issue linking these otherwise different markets. Before committing, purchasers should investigate recent comparable sales, typical marketing periods and the number of credible local buyers. An asking-price increase is not especially useful if the owner cannot sell within an acceptable timeframe. Valuation and liquidity are related, but they are not the same thing.

Independent legal and technical inspections should therefore precede any commitment, even when the headline growth appears unusually strong.

The intended holding period should reflect that uncertainty rather than an assumption of rapid resale. The exit normally requires a legally eligible purchaser, a completed conveyance and, for foreign owners, conversion or transfer of proceeds under applicable rules. Financing, taxes, repairs and management costs must also be modelled. Prices, rents and currencies can decline, and legal or political conditions can change. The appropriate response to these striking rankings is selective investigation supported by independent local expertise, not a blanket bet on the next fashionable frontier.

Frequently asked questions

Does Kayseri’s figure imply an annual doubling?

No. The reported 93% increase covers three years and measures an asking-price series.

Can foreign buyers assume the same rights in every market?

No. Eligibility and the rights attached to land, apartments and leases must be checked for the specific jurisdiction and asset.

What is the main exit risk?

A higher advertised value may not translate into a prompt sale at that level, especially where the pool of eligible buyers is limited.

Sources and methodology

Source: Global Property Guide, Global Square Meter Prices (Q3 2026 Update), supplied newsletter, accessed 6 November 2026. Its comparison covers 242 cities and uses average asking prices, with currency conversion and selected new-build series. Property News Asia has not independently reproduced the underlying dataset. Analysis and illustrative calculations are distinguished from reported observations.

Image credit: Historic eastern city gate, Chiang Mai. Archive photograph (2014), illustrative rather than evidence of current market conditions. Photo: Stefan Fussan / Wikimedia Commons, CC BY-SA 3.0. No editorial alterations; display may be resized.