Homes values in Turkey are increasing by an average of 10.76 per cent year-on-year according to the latest report from online real estate analysts, REIDIN.
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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