Rents 'on the increase in Turkey'
New findings from the Ministry of Finance suggest that yearly rents in Turkey have shown an increase over the past year, reports Today's Zaman.
The study says that the average yearly rent in 2005 was 2,943 YTL (£1,132) and had increased 24% last year to 3,651 YTL.
Rent rises in Sirnak were unprecedented, where there was a 107% increase. In Istanbul, on average rent rose by 29%.
Overall, the property market appears in good health, with a 29% rise in total rental income recorded in 2006. Last year, income stood at 4.1 billion YTL up from 3.2 billion YTL in 2005.
The number of declared rental properties increased in Agri by 136%, while they declined in 16 cities.
Director general for income policy of the Ministry of Finance Seyit Ahmet Bas said that he would be reporting any properties that were not declared to the tax administration.
"Our only aim here is to ensure that everyone fulfills their obligations and our work will continue until that is the case," he commented.
In other news, about 100 companies based in Istanbul are to relocate in a new transformation scheme, according to Nirvana International.
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