Real Estate

Housing prices in Turkey increased by 33% in a year

The House Price Index (PPI) was 192.6 in August, up 3.9% month on month and 33.4% year on year.

The Housing Price Index data for the period of August 2021 has been announced by the Central Bank of the Republic of Turkey (CBRT).

The KPI (2017=100), calculated to monitor the price changes of houses in Turkey, adjusted for the quality effect, increased by 3.9% compared to the previous month and became 192.6 in August.

While the Housing Price Index increased by 33.4% in August compared to the same month of 2020, the real increase in this period was 11.9%.

INCREASE IN METROPOLITAN CITIES

Looking at the change in the housing price index for the 3 big cities, there was an increase of 4.3%, 3.3% and 3.8% in Istanbul, Ankara and Izmir, respectively, in August compared to the previous month. Index values increased by 30.7% in Istanbul, 28.5% in Ankara and 33.6% in Izmir compared to the same month of the previous year.

Source: NTV / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published.

Back to top button