The Central Bank of the Republic of Turkiye has released the latest Housing Price Index (HPI) data for March 2024, revealing a significant uptick in housing prices. The HPI rose by 1.2% from the previous month, reaching a value of 1230.5, and skyrocketed by 52% compared to the same month last year.
Despite this substantial annual increase, the real terms show a 9.8% decrease over the same period.
Breaking it down by major provinces, Istanbul and Ankara each experienced a 1% monthly increase in the HPI, while Izmir saw a 0.6% rise. Annually, Istanbul’s index values climbed by 40.4%, Ankara’s by 63.9%, and Izmir’s by 49.5%.
This data, calculated using the HPI (2017=100) to reflect quality-adjusted price changes, underscores the dynamic shifts in Turkiye’s housing market.
Source: AA / Prepared by Irem Yildiz
