Turkish house prices rose 12 percent in 2017

Turkish house prices climbed just under 12 percent last year, matching the year-end rate of consumer price inflation, according to a report by REIDIN, which tracks property market developments around the world.

Prices increased 11.97 percent nationally, according to the report, compiled in conjunction with Turkish bank Işbank. The month-on-month gain compared with November was 0.8 percent, it said.

Rent rose 7.2 percent in December from the previous year, while the increase was 0.2 percent from November, REIDIN said.

Turkey’s inflation rate is currently 11.92 percent. The government said last week it plans to introduce financial incentives to persons buying residential homes.