Housing prices in Turkey decrease in real terms in July

According to data from the Central Bank of Turkey (TCMB), housing prices increased by 0.9% in July on a monthly basis. While prices saw a nominal increase of 38.7% compared to the same month of the previous year, they decreased by 14.3% in real terms.

The Central Bank of Turkey has released the Housing Price Index (HPI) data for July 2024.

In July 2024, the HPI increased by 0.9% compared to the previous month, and saw a nominal increase of 38.7% compared to the same month of the previous year. However, in real terms, the index decreased by 14.3%.

In July 2024, housing prices decreased by 0.2% in Istanbul and Izmir compared to the previous month, while they increased by 0.6% in Ankara.

The index values for Istanbul, Ankara, and Izmir increased by 26.8%, 39.4%, and 37%, respectively, compared to the same month of the previous year.