he rise in real estate prices is a worldwide phenomenon. The Global Real House Price Index presented by the International Monetary Fund (IMF) portrays this fact. As a result of the 2007 U.S. financial crisis, well-known for the sub-prime crisis, housing prices fell and the rise in property prices seemed to stabilize. However, this was only a temporary trend. Open market manipulations, such as low interest rate policies and asset repurchase, which were made to resolve the economic slowdown in response to the financial crisis, expanded liquidity. As a result, the price of real estate, which had slowed for a while, began to rise sharply again, and the real estate price index recovered to its level in 2017.