REIDIN.com has reported in its new home price index that the value of newly built property in Turkey increased by 10.4% in the 12 months since the end of February 2011, with prices rising by 0.6% in February 2012.

In its monthly property price index, REIDIN.com revealed that the average cost of old and new Turkish residential property combined climbed by 0.8% in February compared to the previous month and that Antalya experienced the biggest rises, with the value of existing homes up by 1.11%.

Adana, Izmir and Istanbul also recorded price increases of 1% or more in February.

Data published recently by Knight Frank also indicated Turkey’s housing market is performing well. According to the firm, the value of homes in the country climbed by 7.7% between the final quarter of 2011 and the same period a year earlier.

However, property price rises appear to be accelerating as they increased by 2.4% in Q4 2011 and are expected to have exceeded that growth rate in Q1 this year.