Residential Property Price Index rose by 3.8 percent in October
The Residential Property Price Index (RPPI) reached 1129.6 in October, marking a monthly increase of 3.8 percent and an annual increase of 86.5 percent.
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The Central Bank of the Republic of Turkey has released the Residential Property Price Index data for the October 2023 period.
The RPPI (2017=100), calculated to monitor quality-adjusted price changes of residential properties in Turkey, increased by 3.8 percent in October compared to the previous month, reaching a level of 1129.6.
While the RPPI rose by 86.5 percent on an annual basis in October, the real increase during this period was 15.4 percent.
When looking at the RPPI changes for the three major cities, increases of 2.9 percent, 4.7 percent, and 3.3 percent were observed in Istanbul, Ankara, and Izmir, respectively, in October compared to the previous month.
Compared to the same month of the previous year, index values rose by 74.4 percent in Istanbul, 101.5 percent in Ankara, and 80.1 percent in Izmir.