Housing price increase rate announced

The Residential Property Price Index (RPPI) rose by 2.3 percent monthly and 68 percent annually in January 2024, reaching 1190.

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The Central Bank of the Republic of Turkey has released the Residential Property Price Index (RPPI) data for the January 2024 period.

The RPPI (2017=100), calculated to monitor quality-adjusted price changes of residential properties in Turkey, increased by 2.3 percent in January compared to the previous month, reaching a level of 1190.

While the RPPI increased by 68 percent on an annual basis in January, the real increase during this period was 1.4 percent.

Looking at the RPPI changes for the three major cities, increases of 1.3 percent, 2.4 percent, and 2.8 percent were observed in Istanbul, Ankara, and Izmir, respectively, in January compared to the previous month.

Compared to the same month of the previous year, index values rose by 54.5 percent in Istanbul, 85.6 percent in Ankara, and 70.4 percent in Izmir.

News Source: AA