Turkish house prices take flight

Turkish house prices took flight in May, as they rose by more than 16 per cent.

The country's market has enjoyed a boom in investment in recent years, as the country's economy and booming population has ensured that demand remains strong. Indeed, sales jumped 42.7 per cent in April year-on-year, according to the Turkish Statistical Institude.

High demand in the face of low supply helped to continue driving prices up. The latest Turkish House Price Index, (prepared by Garanti Bank and Reidin-GYODER), rose 1.4 per cent in May 2015 month-on-month and by 16.54 per cent year-on-year. New home prices rose by a smaller 0.76 per cent month-on-month.

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