The Housing Price Index increased by 4.7 percent in April

The Central Bank of the Republic of Turkey has announced the Housing Price Index data for the April 2023 period.

The Housing Price Index (HPI), which is calculated to track the price changes of housing units in Turkey after adjusting for quality effects (2017=100), increased by 4.7 percent compared to the previous month, reaching a level of 847.4 in April.

On an annual basis, the HPI rose by 121.3 percent in April, with a real increase of 53.0 percent during this period.

Looking at the HPI changes for the three major cities, Istanbul, Ankara, and Izmir, in April, there was an increase of 4.2 percent, 6.2 percent, and 5.0 percent, respectively, compared to the previous month.

Compared to the same month of the previous year, the index values in Istanbul increased by 114.1 percent, in Ankara by 126.1 percent, and in Izmir by 123.0 percent.