24 June 2012

Turkish house prices rise again

The value of Turkish property continued its upward trend in May, with prices increasing by 1.1 per cent nationally compared to the previous month.

As a result, the cost of buying a home in the country has increased by 10.19 per cent in the last year, the REIDIN figures revealed.

Antalya recorded the biggest monthly hike at 1.7 per cent, while Izmir has seen real estate values climb the most over the past 12 months, posting a 13.46 per cent rise.

Residential rents were also up in all the destinations surveyed, with Izmir leading the way with a 1.66 per cent monthly increase. Rents jumped by 1.01 per cent across Turkey as a whole between April and May.

Earlier this month, Richard Way, editor at the Overseas Guides Company, highlighted several advantages for British buyers looking for a property in Turkey.

He explained many homes in the country are valued in euros, so purchasers can still benefit from the strength of sterling against the single European currency, while recent changes to Turkey’s real estate laws have made it easier for foreigners to buy larger plots of land.

Source: www.PropertyShowRooms.com