Real Estate

Turkey: Housing Price Index rose 9% in November

The House Price Index (KPI) increased by 9% to 229.1 in November.

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

The (KFE) (2017=100), calculated to monitor the quality-adjusted price changes of houses in Turkey, increased by 9.0% compared to the previous month and was recorded as 229.1 in November.

While the Housing Price Index increased by 50.5% in November compared to the same month of 2020, the real increase in this period was 19.7%.

Looking at the changes in the housing price index for the three big cities, there was an increase of 10.4%, 9.1% and 8.3% in Istanbul, Ankara and Izmir, respectively, in November compared to the previous month.

Index values increased by 50.9% in Istanbul, 46.3% in Ankara, and 49.5% in Izmir compared to the same month of the previous year.

Source: NTV/ Translated by Irem Yildiz

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