Turkey: House prices rise over 1 pct in May 2017

Prices of new houses in Turkey increases 1.07 percent in May compared with same month previous year

ANKARA (AA) - Prices of new houses in Turkey increased slightly in May 2017 compared with the same month the previous year, according to a new house price index released Thursday.

New home prices in Turkey increased 1.07 percent in May from the previous month, according to a report prepared by Reidin-GYODER - an association of real estate investment companies.

The Turkish Composite House Price index, which measures the rate of price variations of Turkish single-family homes, and which are based on property sales records in public land registries, increased 0.11 percent in May compared with April and climbed 2.64 percent year-on-year.

Moreover, property sales in Turkey increased 7.6 percent from last year during the month of April, according to house sale statistics released by the Turkish Statistical Institute on May 24. Some 114,446 houses changed hands in April.

In the first four month of the year, 440,226 houses changed ownership, up from 409,812 in the same period of last year.

Kaynak:

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