Turkey property prices still on the up

Photo credit: Bryan Tighe

Turkish property prices are still on the up, according to the latest figures.

The average value of homes in Turkey increase by 2.33 per cent in July. On top of previous month's climbs, prices have now grown by 12.31 per cent in the past year - although some areas of the country have seen prices rise even higher.

Indeed, house prices in Izmir have jumped by 16.57 per cent compared to July 2011, adds Property Showrooms, with Istanbul and Antalya property values jumping by 13.72 per cent and 12.66 per cent respectively.

Rental rates have also continued to increase, posting an annual rise of 12.3 per cent, again led by the trio of Izmir, Istanbul and Antalya.

The rising prices follow the introduction of new legislations that have opened up Turkish real estate to buyers from an additional 94 countries, as the country's property market seems to go from strength to strength.