Real loss streak in housing continues across Turkey

According to data released by the Central Bank of the Republic of Turkey, housing prices increased by an annual rate of 24.5 percent in June. With annual consumer inflation standing at 32.11 percent in the same period, the real loss process in housing reached its seventh month.

June Price Developments

According to data from the Central Bank of the Republic of Turkey's residential property price index, housing prices recorded a 24.5 percent increase in June compared to the same period of the previous year.

In the same period, annual consumer inflation was measured at 32.11 percent, causing the period of real losses in the housing market to continue.

Monthly Increase and Metropolitan Cities

According to CBRT data, housing prices experienced a monthly increase of 2 percent in June.

Examining price changes in metropolitan cities, the monthly increase was 3.1 percent in Izmir, while this rate stood at 2.1 percent in Istanbul and 1 percent in Ankara.

Situation in the Rental Market

While the rent index increased nominally by 29.2 percent in June compared to the same month of the previous year, it recorded a 2.2 percent decrease on a real basis.

In Istanbul, the annual rent increase reached 33.4 percent, exceeding the inflation rate and leading to a real increase.