Real Estate

Turkiye: Housing Price Index increased by 3.6% in May

The House Price Index (PPI) was 877.9, up 3.6% month on month and 103.6% year on year in May.

The Housing Price Index data for the period of May 2023 has been announced by the Central Bank of the Republic of Turkiye (CBRT).

The PPI (2017=100), calculated to monitor the quality-adjusted price changes of residences in Turkiye, increased by 3.6% in May compared to the previous month and amounted to 877.9.

While the PPI increased by 103.6% on an annual basis in May, the real increase in this period was 45%.

Looking at the change in PPI for the 3 big cities, an increase of 2.8%, 5.6% and 3.2% was observed in Istanbul, Ankara and Izmir, respectively, in May compared to the previous month.

Index values increased by 95.2% in Istanbul, 113.2% in Ankara and 106.2% in Izmir compared to the same month of the previous year.

Source: Trthaber / Prepared by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button