Home prices in Turkey rocketed 132% in the first quarter from a year earlier as massive earthquakes overwhelmed reconstruction demand, a Knight Frank report said, Invest-Gate reports.

Prices jumped 135.3% in Ankara, 133% in Izmir, and 127.3% in Istanbul, Knight Frank data showed.

Tremors along the Turkey-Syria border in February killed over 51,000 and caused $104 bn in estimated damage, Turkey said.

The price surge dwarfed other gainers like North Macedonia at 18.8% and Croatia at 16.6%, according to the global property firm. Hungary and Lithuania rounded out the top five with 16.6% and 15.3% increases respectively.

Greece, Iceland, and Mexico also saw double-digit price growth between 11-14.5% in January to March. Globally, real estate values rose 3.6% in the quarter, slower than the prior period’s 5.7% jump, Knight Frank reported.

The deadly quakes flooded Turkey’s reconstruction sector with demand, supercharging property values as supply could not keep up with the massive rebuilding task.