Turkey Property News

Growth recorded for Turkish property prices

Growth recorded for Turkish property prices
The value of housing in Turkey increased in June, with price growth in the country reaching 10.76 per cent year-on-year.

This is the finding of the latest real estate index from REIDIN, with the organisation noting Izmir in particular has seen property prices climb significantly - up by 14.66 per cent annually.

Istanbul was another top performer, posting a yearly growth in values of 12.29 per cent. Izmir and Istanbul have also experienced two of the biggest increases in rental costs - 13.79 per cent and 11.38 per cent respectively.

However, it is Antalya that comes out on top in terms of rental growth, with the cost of letting a property here rising by 13.99 per cent in the past 12 months.

Overall, rents for Turkish real estate climbed by 10.34 per cent year-on-year and by one per cent on a monthly basis.

Hurriyet Daily News recently reported foreign investment in property in Turkey has grown significantly in 2012. The news provider cited figures from the Central Bank, which revealed overseas buyers snapped up $1.1 billion (£706 million) worth of real estate assets in May this year.

This represents a large increase compared with the $114 million of transactions completed between January and April 2012.