Residential Property Price Index announced: The increase in that province continues

The Central Bank has shared the Residential Property Price Index for October with the public.

Accordingly, housing prices increased by 2.1 percent compared to the previous month and by 26.8 percent compared to the same month of the previous year. In real terms, housing prices declined by 14.7 percent.

Here is the latest status of housing prices in Istanbul, Ankara, and Izmir...

The Central Bank of the Republic of Turkey (TCMB) has announced the October Residential Property Price Index data.

The Residential Property Price Index showed an increase of 2.1 percent in October compared to the previous month. The index increased nominally by 26.8 percent compared to the same month of the previous year.

In real terms, housing prices decreased by 14.7 percent.

In October, compared to the previous month, housing prices increased by 1.1 percent in Istanbul, 2.8 percent in Ankara, and 4.5 percent in Izmir.

On an annual basis, housing prices saw increases of 21.2 percent in Istanbul, 32.5 percent in Ankara, and 28.7 percent in Izmir.

WHAT IS THE RESIDENTIAL PROPERTY PRICE INDEX?

These are indices created to track price changes in the Turkish housing market.

To represent the price of housing, the housing values in appraisal reports prepared during applications made to commercial banks providing loans for individual housing credit requests are used.