Turkey has been credited as among the top performing property markets in the world in a Global House Price Index conducted by Knight Frank.
The index, which tracks the performance of mainstream house prices worldwide, saw Turkey take the third spot, after Brazil and Austria, with its property price rises presenting a 5.7 per cent increase on the same period in 2011 in the six months to June 2012.
The data would suggest that Turkey not being part of the Euro has aided its position. Thirteen of the 17 eurozone members weighed in towards the bottom end of the rankings for price growth for April-June this year, with the lack of available finance, shrinking job markets and low consumer confidence believed to be stifling demand for housing.
Euro-destinations Greece, Portugal and Spain, traditionally favoured spots by Brits for a second home, were among the worst performing markets. Property values in these areas fell by 10.3 per cent, 7.9 per cent and 8.3 per cent respectively.
Source: Knight Frank 2012
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