subject: Price of Residential Property in Turkey on the Rise [print this page] Price of Residential Property in Turkey on the Rise
New data recently released from the REIDIN Turkey Residential Property Price index indicates that the price of residential property in Turkey is on the rise. This news will be welcomed by vendors of real estate in Turkey and of interest to potential buyers who will be encouraged by a market on an upward trajectory but who may wish to get in now before prices rise further, reports House Sales Turkey (http://www.housesalesturkey.com/).
The data reveals that the price of residential real estate in Turkey is increasing in some of the country's main cities based on data gathered in December 2010 and compared to that of December 2009. The five cities to see notable price rises of residential property were Ankara, Adana, Istanbul, Izmir and Kocaeli. Ankara residential property rose by 0.47 per cent, Adana by 1.36 per cent, Istanbul by 0.55 per cent, Izmir by 0.09 per cent and Kocaeli by 0.94 per cent according to the REIDIN Turkey Residential Property Price index.
These cities are among Turkey's most popular tourist destinations and tourism in Turkey is also enjoying an upturn. Official figures indicate that the economic downturn has not detrimentally impacted Turkey's tourism, with around 28 million overseas travellers visiting the country in 2010, a 5% increase on the figures from 2009. This trend is set to continue, according to experts at the Turkish Hoteliers Federation. Their annual tourism report predicts that 2011 will see Turkey's tourism revenue reach $25 billion dollars from some 31 million tourists. Such a reliable influx of tourists is sure to attract property investors in both city apartments and, in the country's beach resorts, villas in Turkey.
On the back of this positive news for tourism and residential property in Turkey, Jim O'Neill, an economist from Goldman Sachs is forecasting that Turkey's economy, already tipped by experts to enjoy growth in 2011, will in fact exceed expectations, making Turkey a country to watch for investors the world over, including property investors.
House Sales Turkey are experts in property in Turkey, assisting those wishing to buy and sell property in Turkey. For further information visit http://www.housesalesturkey.com/.
