Economy in Turkey: First increase in housing prices in two months
According to the data from the Central Bank of the Republic of Turkey (TCMB), the Housing Price Index (KFE) in August 2023 increased by 5.5% compared to the previous month and by 90.3% compared to the same month of the previous year. Prices, which had experienced a decrease in the last two months in terms of dollars, rose again in August.
The Central Bank of the Republic of Turkey has announced the Housing Price Index data for August 2023.
The KFE (2017=100), calculated to monitor price changes in housing in Turkey while eliminating the quality effect, reached 1043 in August, which is a 5.5% increase compared to the previous month.
In August, the KFE saw a 90.3% annual increase, with a real increase of 21.9% during this period.
HIGHEST INCREASE IN ISTANBUL
When we look at the KFE change for the three major cities, in August, there was an increase of 5.4% in Istanbul, 5.2% in Ankara, and 5.5% in Izmir compared to the previous month.
Compared to the same month of the previous year, index values increased by 78.4% in Istanbul, 100.4% in Ankara, and 90.3% in Izmir.
FIRST INCREASE IN TWO MONTHS IN DOLLAR TERMS
Housing prices increased in terms of dollars after a two-month decline.
When examined in terms of dollars, the average price per square meter was 1031.2 dollars for Turkey as a whole, and 1546.9 dollars for Istanbul. This data indicates that housing prices increased in dollar terms after experiencing a decline over the past two months.
