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.