Real Estate

Turkiye: The housing Price Index increased by 12.4% in May

The Housing Price Index increased by 12.4% in May compared to the previous month and became 430.6.

The Housing Price Index data for the period of May 2022 has been announced by the Central Bank of the Republic of Turkiye (CBRT).

The (KFE) (2017=100), calculated to monitor the quality-adjusted price changes of houses in Turkiye, increased by 12.4% in April compared to the previous month and was recorded as 430.6.

While the Housing Price Index increased by 145.5% on an annual basis in May, the real increase in this period was 41.1%.

Looking at the changes in the housing price index for the three big cities, an increase of 12.7%, 11.9% and 11.5% was observed in Istanbul, Ankara and Izmir, respectively, in May compared to the previous month. Index values increased by 165.4% in Istanbul, 147.5% in Ankara and 139.9% in Izmir compared to the same month of the previous year.

Source: Trthaber / Translated by Irem Yildiz

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