CBRT-House prices rose by 48.4% in nominal terms and fell by 13.3% in real terms in April
Istanbul, June 25 (Hibya) - House prices across Turkey rose by 48.4 percent in nominal terms and fell by 13.3 percent in real terms in April, according to the data released by the Central Bank of the Republic of Turkey (CBRT) on Tuesday.
House prices increased by 2.2 percent in April 2024 compared to the previous month, increased by 48.4 percent in nominal terms and decreased by 13.3 percent in real terms compared to the same month of the previous year.
The Residential Property Price Index (RPPI) (2017=100), which measures quality adjusted price changes of dwellings in Türkiye stands at 1257.7 in April 2024 by a monthly increase of 2.2 percent.
In April 2024, the house prices increased monthly by 2.1, 3.0 and 1.9 percent in İstanbul, Ankara and İzmir respectively. İstanbul, Ankara and İzmir recorded an annual increase of 37.6, 58.9 and 45.1 percent
respectively.
The Residential Property Price Index has been published as part of the “Official Statistics Programme (OSP)”. Real changes are calculated using the annual rate of changes (%) in the average of CPI of the reference month and the preceding and succeeding months, in order to comply with the data set used in the calculation.
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