Turkish property prices climb

The value of residential real estate assets in Turkey has risen, new research shows.

According to the REIDIN.com monthly property index for the nation, the worth of homes increased by an average of 0.81 per cent in October, compared to September.

Izmir saw the biggest price hike in this period at 1.53 per cent, while Istanbul also topped the average figure with a jump of 0.88 per cent in its real estate values.

Those who have invested in a property in Turkey with the intention of renting it out may be pleased to learn that rental values climbed by 1.07 per cent across the country between September and October.

Once again, Izmir headed up the table with a rise of 1.58 per cent, closely followed by Istanbul, which posted upward movement of 1.26 per cent. Antalya also performed well, with rents up by 1.24 per cent here.

Residential real estate prices across Turkey have increased by 6.77 per cent between October 2011 and the same month a year earlier, the research noted.

Data from the Land Registry Directorate General recently published by the Anatolia News Agency revealed that 113,687 properties in Turkey are now owned by foreigners.
 

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