TODAY’S – Istanbul housing prices continue to rise

Istanbul housing prices continue to riseHousing prices in Turkeyand#39s largest city shot up 21.59 percent last month compared to July 2013, according to recent figures from real estate market analyst Reidin.

Prices for homes in Istanbul rose 18 percent in July compared to June of 2014, making it the city with the highest price surge nationwide. The provinces of Adana and Ankara saw the second and third highest price increases as prices rose 12.

41 and 12.10 percent, respectively, in those provinces last month year-on year Compared with the previous month in 2014, prices in Adana and Ankara rose 134 and 09 percent.

The provinces of Kocaeli and Bursa experienced comparatively lower increases in housing prices, yet nevertheless rose by 81 and 903 percent, respectively, year-on-year in July, while also increasing slightly month-to-month.Despite continually rising prices, home sales nationwide declined 78 percent during the first of half 2014, in comparison with the same period last year Both new and previously owned homes are included in this figure.

SOURCE: Today’s Zaman