Turkish property is proving the exception to the rule of late, with real estate prices across the rest of Europe continuing their downward trend. According to the latest report by the Global Property Guide, the continent is currently in the "eye of the storm", but a few countries have escaped this trajectory, including Turkey, Austria, Latvia, Germany, Iceland and Finland.

In Q2 2012, house prices in Turkey increased by 1.03 per cent, when adjusted for inflation, quarter-on-quarter. This rose further in the penultimate quarter of the year, enabling the country to continue its climb up the Global Property Guide Index. Turkey has gone from 27th in the table with negative growth of 4.80 in 2010, to almost five per cent positive year-on-year growth in Q3 this year, catapulting it into the top ten.

The Association of Real Estate Investment Partners (GYODER) index, in conjunction with Garanti Bank and Reidin, also notes considerable improvement in the state of the Turkish property market, recording price rises of between ten and 12 per cent per year (not adjusted for inflation).

New properties in the country are also performing well, according to the results of the REIDIN.com-GYODER New Home Price Index. In October 2012, a 0.73 per cent increase with respect to the previous month was recorded. This equates to a 10.25 per cent rise since the same period in 2011.

The Asian side of the country has seen the most activity, with prices rising by 1.69 per cent, compared to just 0.15 per cent on the Istanbul European side. October also noted a 0.96 per cent jump in 1 1 flat type, a 0.78 per cent increase in 2 1 flat type, a 0.82 per cent rise in 3 1 flat type and a growth of 0.67 per cent in 4 1 flat type, month-on-month.

Smaller-sized properties were the top performers, with 51-75 square metres increasing by 1.05 per cent, followed by 76-100 square metre properties at 0.84 per cent, and a 0.72 per cent rise of 101-125 square metres.

source: http://www.propertyshowrooms.com/turkey/property/news/turkish-property-bucks-europe-s-downward-price-trend_312563.html


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