Housing price growth rate revealed: Ankara is at the top
The Residential Property Price Index increased by 1.3 percent monthly in May. The annual growth rate was determined to be 45 percent.
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The Residential Property Price Index (RPPI) increased by 1.3 percent monthly and 45 percent annually in May 2024.
The Residential Property Price Index data for the May 2024 period was announced by the Central Bank of the Republic of Türkiye (TCMB).
The RPPI (2017=100), calculated to monitor price changes in housing in Türkiye adjusted for quality effects, increased by 1.3 percent in May compared to the previous month, reaching 1273.5.
While the RPPI increased by 45 percent on an annual basis in May, the real decrease in this period was 14.9 percent.
HIGHEST ANNUAL INCREASE IN ANKARA
When looking at the RPPI changes for the three major cities, an increase of 1.1 percent for Istanbul, 2.4 percent for Ankara, and 2.6 percent for Izmir was observed in May compared to the previous month.
Compared to the same month of the previous year, index values rose by 35.3 percent in Istanbul, 53.9 percent in Ankara, and 44.2 percent in Izmir.