Real Estate

Turkey: The housing price index increased by 32%

The upward trend in housing prices continued in March as well. The housing price index increased by 32% in March compared to the same period of the previous year, marking the highest annual increase in the history of the index.

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

Calculated to monitor the price changes adjusted for the quality effect of the houses in Turkey, the HPI (2017 = 100) increased by 2.4% compared to the previous month and reached 165.5 in March.

The House Price Index increased by 32% compared to the same month of 2020 and 13.6% in real terms in the same period.

Considering the developments in the housing price indices of the three major cities, Istanbul, Ankara and Izmir increased by 2.1%, 2.2% and 2.4%, respectively, in March compared to the previous month.

Index values increased by 28.9%, 30.3% and 33.9% in Istanbul, Ankara and Izmir, respectively, compared to the same month of the previous year.

Source: NTV / Translated by Irem Yildiz

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