Fastest rise in housing prices in 16 months recorded
The fastest rise in housing prices in the last 16 months has been observed. While a real decline continued with a 4.68 percent increase in January, prices have shown their fastest growth since September 2023.
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The Residential Property Price Index, which increased by 4.7 percent in January 2025 compared to the previous month, rose nominally by 31.9 percent compared to the same month of the previous year, while it decreased by 7.2 percent in real terms.
The statement made by the Central Bank of the Republic of Turkey (TCMB) is as follows:
"The Residential Property Price Index (RPPI) (2023=100), calculated to monitor the quality-adjusted price changes of houses in Turkey, increased by 4.7 percent in January 2025 compared to the previous month, reaching a level of 165.9.
The RPPI, which increased by 31.9 percent compared to the same month of the previous year, showed a decrease of 7.2 percent in real terms during the same period.
When evaluating the developments in the residential property price indices of Istanbul, Ankara, and Izmir, increases of 3.0, 5.7, and 4.9 percent, respectively, were observed in January 2025 compared to the previous month. Compared to the same month of the previous year, the index values showed increases of 29.6, 36.6, and 29.6 percent in Istanbul, Ankara, and Izmir, respectively."