After the bank interest income passed the housing price increase after many years, a bad news came to the real estate investor from the rent front. Housing rental growth fell below 3.5 percent, real rent increases by -5 percent in view of inflation…
According to "Reidin Real Estate Index" covering 68 provinces in Turkey, house prices increased by 0.79 percent in June and 10.13 percent compared to the same month of the previous year.
House renting in Turkey increased by 3.5 percent in June, the smallest increase since 2011. According to Bloomberg's calculations using official data, rent increases were 7.9 percent in April. Over the past seven months, it has remained below the rate of inflation.
Quick rising in Bursa
Bursa was the city with the highest rise. In Bursa, housing sales prices per square meter increased by 2.26 percent in June. In the same period, the most decrease in housing sales prices was realized in Sanliurfa with 0.97 percent.
In Turkey property market 2017, the top 5 provinces with the highest increase in residential prices were Balikesir with 27.46 percent, Canakkale with 22.08 percent, Tekirdag with 21.42 percent, Zonguldak with 20.86 percent and Bursa with 20.19 percent.
Rental prices in June increased by 0.89 percent compared to the previous month and 3.95 percent compared to the same period last year. Bursa, with an increase of 2.42 percent in housing rent values per square meter, took the lead. In the same period, the city where the rent value of houses decreased most, was Erzincan with a rate of 1.17 percent.