Turkish Property Prices Continue Steady Growth

Posted on 09 November 2011

Turkish house prices continue to grow at a steady pace according to the latest data from Gyoder in partnership with Reidin.

Over the first few months of this year, month in month out the index showed year on year growth averaging around 6% and monthly growth hovering around 1% or less. In July the growth quickened to 7.29% on the year, and 1.20% on the month. August saw the biggest year on year growth of 7.66% while monthly growth slowed back to 0.82%. And in September prices being flat over the month saw the annual growth pulled back to 7.18%.

As Europe continues to suffer at the hands of a sovereign debt crisis, the UK property market struggles up onto its knees and the US struggles to manage even that, such steady growth in the Turkish property market is a sight for sore eyes — especially as we all now know the cost of property prices growing too quickly and many of us still live with the consequences daily.

According to the Gyoder data houses of 101-125sqm saw the biggest growth in the past year, with prices rising by 9.83% on average, although on the month prices fell by 0.44% on average for that size bracket. In terms of the most positive performance on the month and on the year the largest bracket of 151sqm+ saw prices up 6.07% on average over the year, and 3.04% over the month.

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