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House Price Index increased by 7.3 percent in July

House prices in Turkiye increased by 7.3 percent on a monthly basis in July, according to the House Price Index (KFE) data. However, the annual rate of increase decreased from 96 percent to 95 percent.

House Price Index increased by 7.3 percent in July

The House Price Index (KFE) (2017=100), which is calculated to monitor the quality-adjusted price changes of houses in Turkiye, increased by 7.3 percent in July 2023 compared to the previous month and reached 988.5.

According to the statement made by the Central Bank of the Republic of Turkey (CBRT), the KFE, which increased by 94.7 percent compared to the same month of the previous year, increased by 31.2 percent in real terms in the same period. The annual increase in house prices was 95.9 percent in the previous month.

Looking at the house price indices in Istanbul, Ankara and Izmir, increases of 6.8, 8.1 and 5.5 percent, respectively, were observed in July compared to the previous month. Index values increased by 82.7 percent in Istanbul, 105.2 percent in Ankara and 97.1 percent in Izmir compared to the same month of the previous year.

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