Central Bank announces housing price index: The decline continues
According to the Central Bank of the Republic of Turkey's housing price index, housing prices in April recorded their slowest annual increase since October 2021, at 48.42 percent. Prices rose by 2.24 percent in April compared to the previous month.
The Central Bank of the Republic of Turkey has announced the housing price increase rate. The Housing Price Index (HPI) increased by 2.2 percent monthly and 48.4 percent annually in April 2024.
The Housing Price Index data for the April 2024 period was announced by the Central Bank of the Republic of Turkey (TCMB).
The HPI (2017=100), calculated to monitor price changes in housing in Turkey adjusted for quality effects, increased by 2.2 percent in April compared to the previous month, reaching 1257.7.
ANNUAL INCREASE IS 48.4 PERCENT
While the HPI increased by 48.4 percent on an annual basis in April, the real decrease in this period was 13.3 percent.
Looking at the HPI changes for the three major cities, an increase of 2.1 percent for Istanbul, 3 percent for Ankara, and 1.9 percent for Izmir was observed in April compared to the previous month.
Compared to the same month last year, index values rose by 37.6 percent in Istanbul, 58.9 percent in Ankara, and 45.1 percent in Izmir.
News Source: AA
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