Property News

Turkish property prices rise in January

Turkish property prices rise in January
The cost of buying a home in Turkey jumped by 0.88 per cent in January compared to December last year.

According to the REIDIN Turkey Residential Property Price Indices, Antalya experienced the biggest rise, with real estate values in the city up by 1.25 per cent.

Istanbul and Izmir also recorded increases of more than one per cent, while Ankara and Adana saw house prices marginally climb in value.

Kocaeli was the only destination where a fall was noted, while in Burca the cost of buying a property in Turkey remained unchanged.

Rental growth was also posted in almost every location surveyed, with Adana the only place where rents were constant. Izmir saw monthly charges increase the most, where it now costs 1.35 per cent more to lease a home than in December 2011.

Last month, Gem Invest highlighted Istanbul as a property investment hotspot in the nation, revealing rental yields of more than eight per cent are achievable on smaller apartments in the city.