Izmir property is producing the highest returns according to the report, with annual growth at 14.6 per cent, and Turkey’s business hub Istanbul is also a top performer with gains at 12.29 per cent annually.
Rents are also on the up across Turkey, with average rents rising by 10.34 per cent year-on-year, and by just over one per cent each month. Coastal destinations continue to prove top of the props when it comes to rentals however; Antalya being the most lucrative for buy-to-let investors, with the cost of renting a property there rising by 13.99 per cent in the past year alone.
The news comes shortly after the Turkish Central Bank revealed a surge in overseas buyers in Turkey, soon after the enactment this Spring of a new property Bill. Approximately £706 million (1.1 billion US Dollars) worth of real estate was snapped up by foreign investors this May – four times the total purchased by non-Turkish nationals in 2011.[Source: REIDIN]
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