The Housing Price Index increased by 3.8 percent on a monthly basis in October. On an annual basis, the index showed a significant rise of 86.5 percent, and during this period, the real increase was 15.4 percent.
The Central Bank of the Republic of Turkey (CBRT) has released the Housing Price Index (HPI) data for the October 2023 period. The HPI, calculated to monitor the price changes of houses in Turkey, adjusted for quality effects (2017=100), increased by 3.8 percent in October compared to the previous month, reaching 1129.6.
On an annual basis, the HPI increased by 86.5 percent in October, with a real increase of 15.4 percent during this period.
Looking at the HPI changes for the three major cities, Istanbul, Ankara, and Izmir, in October compared to the previous month, there were increases of 2.9 percent, 4.7 percent, and 3.3 percent, respectively.
Comparing the index values to the same month of the previous year, there were increases of 74.4 percent in Istanbul, 101.5 percent in Ankara, and 80.1 percent in Izmir.