New figures have shown that last month, the price of homes in Turkey increased, not only on a monthly basis, but also on a yearly one.

The Reidin.com Turkey Residential Property Price Index released figures which show the country experienced a hike in property value by 5.38% year on year last month; and a rise of 0.83% from the previous month of June.

The results also showed that every city listed, except Antalya, saw a rise in residential property prices. Antalya saw a decline of 4.56%. Istanbul was the biggest winner, and saw an increase in prices of 6.83% in July, compared to July 2010.

The price of renting in Turkey has also been on the up, though it must be said, at a much slower rate; in the hope of boosting sales. Andy Bridge from A Place in the Sun commented earlier this month that Turkey is a hotspot for people investing in property because of its affordable homes, twinned with the fact that it is outside the eurozone.

To understand the full step-by-step process to buying a property in Turkey, collect The Overseas Guides Company’s ‘Turkey Property Buying Guide’