Independent Report Shows House Prices In Turkey Have Risen

According to an independent report from real estate and emerging market experts REIDIN.com

, the prices for residential property in Turkey rose once again in September 2011, by 0.73 per cent when compared to the previous month.

REIDIN.com is a firm of real estate analysts which specialises in emerging markets and in its most recent residential house price index for Turkey, the company reveals that average house prices in the country rose by 0.73 per cent in September when compared to Augusts figures. Rental values for the same period rose by 0.90 per cent, according to the index. Izmir in the west of the country showed the most significant price hikes, with some city properties rising by as much as 2.11 per cent. There were also price increases in September in the cities of Istanbul, Ankara, Adana and Kocaeli, although not as high as those seen in Izmir, and none of which rose by more than one per cent.

It wasnt the same story for all real estate in Turkey in September, however. Property prices in Antalya and Bursa were lower than those recorded the previous month, although these regions did experience rental growth in September. Antalya saw rentals increase by one per cent, and in Bursa rentals increased by 0.65 per cent. The perennially popular Istanbul saw the highest growth in rentals, however, witnessing a jump of 1.13 per cent in September.

Meanwhile, Turkeys economy continues to attract positive attention. The Financial Times reported this week on UK Coalition Government Minister Vince Cables comments about Turkeys economic strength: "Thers a vast potential that we havent tapped until now". Cable joined other international politicians and business leaders to discuss the future of Turkey in delegation talks, with the FT calling the meetings "part of an effort to reorient ties towards the emerging markets that today account for half of global gross domestic product and offer the promise of continued growth." Turkeys Prime Minister Recep Tayyip Erdogan is bullish about his country still being seen as an emerging market when compared to the rest of Europe: "They are crumbling", he said of the EU economy, "But Turkey is up on its feet".

It seems all eyes are still on Turkey, both for its real estate market and for the potential of the wider economy. For the latest news and information on real estate in Turkey, along with the best property listings. thanks

by: James P Martin

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