The value of property in Turkey increased again in July, posting a monthly gain of 2.33 per cent and bringing in annual price growth to 12.41 per cent nationally.
Among the top locations are the coastal cities of Antalya, Istanbul and Izmir, who all scored above the national average – Antalya and Istanbul posting year-on-year growth at 13.72 and 12.66 per cent respectively, and Izmir an impressive hike at 16.57 per cent on the same time last year.
The rentals market is also faring well for Turkey buy-to-let investors. National growth in this area now stands at 12.3 per cent year-on-year, with Antalya the hottest investment spot right now with growth at 13.99 per cent.
Suleyman Akbay, MD of Oceanwide Properties, comments: ‘The growth and stability of Turkey’s housing market is quite literally making it the desirable sunshine destination compared to eurozone countries, many of whom appear to have dark financial clouds to contend with for some time to come.’
Turkey’s property market is certainly marking itself out through its ‘growth factor’ this year; the government effecting a change in Turkish property law earlier this month which grew the total number of countries able to buy to 183 nations, and in the process quadrupling the number of real estate purchases by overseas buyers in one month alone (Source: Turkish Central Bank).
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