Turkey leads in Europe for property growth

Turkey leads in Europe for property growth

property market growth in turkeyTurkey maintained the leading position in Europe in house prices in the first nine months of 2013.
This conclusion came in a report by Turkish portal Today’s Time.

According to the investigation, the average property price is increased by 12.5 % in the first three quarters of 2013 compared to the same period last year. According to the forecast, house prices in 2014 is also expected to rise from 10% to 15%.

istanbul turkey propertyAccording to the report, Turkey ranks sixth in the world country in the growth of house prices. Leading city is Dubai in United Arab Emirates, the increase of prices for residential buildings is 28.5 %. Second place is China, in this country house price growth is 21.6 %. Fourth place is shared between Hong Kong (16.1%) and Taiwan (15.4%). And in the fifth position is Indonesia (13.5%). Just below Turkey with its sixth place and 12,5%, the seventh place is Brazil (11.9%).

According to the leading real estate information company focusing on emerging markets, house prices in Turkey rose by 13.32 % in the 12 months from November 2012 to November 2013. The largest increase was observed in Istanbul (19.47 %) and Antalya  (22,62%).

antalya turkey propertyThe cost of new property in Turkey last year increased by almost 15%.
In January, the index of real estate prices in Turkey, which measures the value of single-family homes increased by 1.39 % compared with the previous month, an increase of 14.36 % compared to the same month last year.
Prices for new homes in Turkey increased by 13.55% in January 2014 compared to the same month last year.

According to the study prepared by Garanti Bank in Turkey, prices for new homes in Turkey in January 2014 was increased by 0.49% compared with the previous month.