Housing Price Index increased by 7.3 percent in July

Housing Price Index (HPI) increased by 7.3 percent monthly and 94.7 percent annually in July, reaching 988.5.

Housing Price Index data for the July 2023 period was announced by the Central Bank of the Republic of Turkey (CBRT).

KPI (2017=100), which is calculated to monitor the quality-adjusted price changes of houses in Turkey, increased by 7.3 percent compared to the previous month in July and reached 988.5.

While KPI increased by 94.7 percent on an annual basis in July, the real increase in this period was 31.2 percent.

Looking at the KPI change for three major provinces, an increase of 6.8, 8.1 and 5.5 percent, respectively, was observed in Istanbul, Ankara and Izmir in July compared to the previous month.

Index values increased to 82.7 percent in Istanbul, 105.2 percent in Ankara and 97.1 in Izmir compared to the same month last year.