The Housing Price Index data for the period of May 2023 has been announced by the Central Bank of the Republic of Turkey (CBRT).
The KPI (2017=100), calculated to monitor the quality-adjusted price changes of residences in Turkey, increased by 3.6 percent in May compared to the previous month and amounted to 877.9.
While the KPI increased by 103.6 percent on an annual basis in May, the real increase in this period was 45 percent.
Looking at the change in KPI for the 3 big cities, an increase of 2.8 percent, 5.6 percent and 3.2 percent was observed in Istanbul, Ankara and Izmir, respectively, in May compared to the previous month.
Index values increased by 95.2 percent in Istanbul, 113.2 percent in Ankara and 106.2 percent in Izmir compared to the same month of the previous year.