Real decline recorded in housing prices in 2024
According to data from the Central Bank of the Republic of Turkey (TCMB), while housing prices showed a 29.4 percent annual increase in December, they recorded a 10.4 percent decrease in real terms.
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The Central Bank of the Republic of Türkiye announced the Residential Property Price Index (RPPI) data for the December 2024 period.
Accordingly, the RPPI, which increased by 2.0 percent in December 2024 compared to the previous month, rose by 29.4 percent in nominal terms compared to the same month of the previous year, while it decreased by 10.4 percent in real terms.
When evaluating the developments in the housing price indices of Istanbul, Ankara, and Izmir, the highest increase in December 2024 compared to the previous month was experienced in Istanbul. Housing prices in Istanbul showed an increase of 2.1 percent in December.
In this area, Istanbul was followed by Ankara with a 2 percent rise and Izmir with 0.4 percent.
On an annual basis, the highest increase was seen in Ankara with 34.8 percent, followed by Istanbul with 26.3 percent and Izmir with 25.2 percent.