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The Residential Property Price Index (RPPI) (2023=100), calculated to monitor price changes in residences in Turkey adjusted for quality effects, increased by 0.9 percent in July compared to the previous month, reaching 141.3.
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While the Construction Cost Index (KFE) increased by 38.7 percent annually in July, the real decrease during this period was 14.3 percent.
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When looking at the change in the House Price Index (HPI) for the three major provinces, a decrease of 0.2 percent was observed in July compared to the previous month for Istanbul and Izmir, while an increase of 0.6 percent was seen for Ankara.
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Compared to the same month of the previous year, index values rose by 26.8 percent in Istanbul, 39.4 percent in Ankara, and 37 percent in Izmir.
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The CBRT had revised the calculation method for the Residential Property Price Index to improve timeliness.
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The new series have begun to be calculated using a monthly dataset instead of a 3-month dataset to increase timeliness, and the publication period has been updated from t+45 to t+15.
News Source : 12punto
