Double-Digit Property Price Increase In Turkey

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According to a report from REIDIN, the online real-estate analysts, Turkish property prices grew year-on-year by 10.76%.

Property in Izmir, Turkey’s third largest city lying on the west coast of the country, was the highest performing with prices rising 14.6% annually. Istanbul property prices also showed yearly growth with a rise of 12.29%.

It was also noted in the report that rental returns rose year-on-year throughout Turkey; in Izmir rental prices rose by 13.79% while in Istanbul they went up by 11.3%. Turkey’s Central Bank has revealed that overseas buyers invested in US$1.1 billion worth of real estate in the month of May. Turkey, seen as the bridge between Asia and Europe is a hot spot for tourism; the top 10 nationalities visiting are Germany, Russia, the U.K., Iran, Bulgaria, the Netherlands, France, Georgia, Syria, and the United States.

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Lucy Culpepper

Lucy Culpepper has traveled to, written about, and worked in some 30 countries. She is originally from Wales in the United Kingdom, has lived all over the UK, in southern California, Spain, and France and has spent extended time in Mexico, Panama, and Costa Rica.