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Costs of Real Estates in Turkey Increase

25.12.2011

The price of purchasing a real estate in Turkey increased in November 2011

Based on the most recent Turkey Residential Property Price Index of GYODER, the price of current real estates in Turkey grew by almost 0.71% the previous month, while yearly, a 7.33% increase has been shown.

Istanbul, Antalya, Adana and Izmir are the primary acting locations according to the information, while Istanbul, Ankara and Adana are the locations who saw the highest price increase contrast to the same period last year.

Rental revenue investment in Turkey

Rental revenue has also increased all over Turkey, which is perhaps the best thing for investors eager to allow their property assets. The best destinations for rent increases during last year include Antalya, with an increase amounting to 8.64%; Istanbul and Izmir, where prices on a monthly basis have increased by 6.83% and 7.25%, respectively.

Those people who have spent their money in investing a real estate in Turkey with the aim of leasing may be delighted to know that rental costs increased by 1.07% throughout Turkey from September to October.

Once more, Izmir was the top among the locations of the country that saw a huge increase, which amounts to 1.58%, thoroughly followed by Istanbul, which saw an increase of 1.26%. Antalya also saw a considerable amount of increase, with rentals grew by 1.24%.

Residential property prices throughout the country have climbed by 6.77% from October 2010 to October of this year, noted the news sources.

It seems that Turkey may remain to be an excellent location for investors of real estates, with the Holiday Lettings' Insights Report lately stressing the importance of the popularity of the country as a holiday location.

The study showed that a significant amount of bookings has been already acquired for families preparing to spend the holiday in Turkey during the next summer vacation.

Figures from the Land Registry Directorate General previously issued by Anatolia News Agency showed that 113,687 Turkish real estates are currently foreigner-owned.

Buying real estate in Turkey has never been very affordable

Because of this, foreigners are looking to invest in real estates in Turkey, British people in particular. Conti Clare Nessling, the director Mortgage Strategy, justified that in several destinations all over Europe, buying a real estate has possibly never been very affordable. Among the nations that are drawing British purchasers is Turkey, since availability of mortgage is commonly good.

She added that Turkey provides excellent real estate prices and tourism of the country has dramatically increased throughout the last few years. In addition, rental revenues are rewarding.

Conti Clare Nessling also said that these elements have made the real estate market of Turkey among the leading hotspots for purchasers in Great Britain in search of a real estate in a foreign country. Possible investors are perhaps induced by statistics issued in October 2011, which proved that income based from tourism grew from July to September 2011, in comparison with the same time last year. Based from statistics, the amount produced by tourists in Turkey increased by 8.9% throughout this period, with 78% of its total income is derived from tourists.

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