In July, the Residential Property Price Index (Housing Price Index) increased by 1.92% month-on- previous month and 3.54% year-on-year.
The Residential Property Price Index is calculated in order to monitor the change in property prices (without taking into account the quality change) in Turkey.
According to data from the Central Bank of Turkey, the Housing Price Index (2017=100) in July 2019 increased by 1.92% compared to the previous month and reached 113.15%.
Housing Price Index, which increased by 1.92 percent in July compared to the previous month, increased by 3.54 percent in nominal terms compared to the same month of the previous year and decreased by 11.24 percent in real terms.
“If we evaluate Housing Price Index changing in the three major cities of Turkey, we find that it increased by 0.25, 2.30, and 2.60% in Istanbul, Ankara, and Izmir, respectively compared to the previous month. Compared to the same month of the previous year, the index decreased by 1.64% in Istanbul and increased by 1.41% and 2.32% in Ankara and Izmir, respectively,” Central Bank of Turkey stated.
Edit By: Realty Group