The Central Bank of the Republic of Turkey (CBRT) announced the housing price index for February.
Housing Price Index (HPI), which increased by 2.2 percent in February 2024 compared to the previous month, increased by 58.3 percent in nominal terms and decreased by 5.1 percent in real terms compared to the same month of the previous year.
IT REMAINED BELOW INFLATION
In February, inflation was announced as 67.07 percent. Thus, the annual increase in house prices remained below the headline inflation for the first time since December 2019.
The House Price Index (HPI), which is calculated to monitor the quality-adjusted price changes of houses in Turkey, increased by 2.2 percent compared to the previous month and reached 1216.0 in February 2024.
KPI, which increased by 58.3 percent compared to the same month of the previous year, decreased by 5.1 percent in real terms in the same period.
HOUSING PRICE INDEX IN THREE MAJOR CITIES
When the developments in the housing price indices of Istanbul, Ankara and Izmir are evaluated, an increase of 1.5, 2.0 and 1.6 percent, respectively, was observed in February 2024 compared to the previous month.
Index values increased by 45.6, 72.9 and 57.4 percent in Istanbul, Ankara and Izmir, respectively, compared to the same month of the previous year.
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Tags: housing prices years Price increases remained inflation time
