Housing Index in Turkey increased to 170.50 points in February from 165.90 points in January of 2025. This dataset provides the latest reported value for - Turkey House Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Residential Property Prices for Turkey (QTRN628BIS) from Q1 2010 to Q3 2024 about Turkey, residential, HPI, housing, price index, indexes, and price.

As of March 2024, Ankara became the region with the highest house price index (HPI) in Turkey. The largest city in the Republic of Turkey, Istanbul, recorded a house price index (HPI) of about 1015.

Key information about House Prices Growth

• Turkey house prices grew 29.4% YoY in Dec 2024, following an increase of 29.4% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 2011 to Dec 2024, with an average growth rate of 12.4%.
• House price data reached an all-time high of 186.8% in Oct 2022 and a record low of 1.2% in Jun 2019.

Turkey Residential Property Price Index (RPPI): Existing Dwellings data was reported at 108.320 2017=100 in Feb 2019. This records an increase from the previous number of 107.410 2017=100 for Jan 2019. Turkey Residential Property Price Index (RPPI): Existing Dwellings data is updated monthly, averaging 69.765 2017=100 from Jan 2010 (Median) to Feb 2019, with 110 observations. The data reached an all-time high of 109.500 2017=100 in Jul 2018 and a record low of 45.250 2017=100 in Jan 2010. Turkey Residential Property Price Index (RPPI): Existing Dwellings data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: Residential Property Price Index.

In 2024, Turkey was the country with the highest increase in house prices since 2010 in Europe. In the first quarter of the year, the nominal house price index in Turkey exceeded 2,784 index points. House prices in Turkey have soared since 2021, fueled by hyperinflation in the country. According to the index, which amounted to 100 in 2010, house prices in Turkey increased by almost 2,700 percent (27 times) since 2010, the baseline year when the index value was set to 100. Iceland had the second-highest increase, at 336.96 index points (237 percent). It is important to note that the nominal index does not account for the effects of inflation, meaning that price growth in real terms was slower.

Turkey House Price Index: Istanbul data was reported at 313.080 2010=100 in Sep 2018. This records an increase from the previous number of 308.630 2010=100 for Aug 2018. Turkey House Price Index: Istanbul data is updated monthly, averaging 175.260 2010=100 from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 313.080 2010=100 in Sep 2018 and a record low of 96.690 2010=100 in Jan 2010. Turkey House Price Index: Istanbul data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: House Price Index.

House price index in Turkey, September, 2024 The most recent value is 3093.81 index points as of Q3 2024, an increase compared to the previous value of 2914.85 index points. Historically, the average for Turkey from Q1 2010 to Q3 2024 is 528 index points. The minimum of 97.39 index points was recorded in Q1 2010, while the maximum of 3093.81 index points was reached in Q3 2024. | TheGlobalEconomy.com

The nominal house price indices in Turkey followed an increasing trend from 2011 to 2023. In 2023, the figures presented a significant growth by 75.5 percent compared to the previous year and amounted to nearly 1,377 index points.

Global house prices experienced a significant shift in 2022, with advanced economies seeing a notable decline after a prolonged period of growth. The real house price index (adjusted for inflation) for advanced economies peaked at nearly 140 index points in early 2022 before falling to around 132 points by the first quarter of 2024. This represents a reversal of the upward trend that had characterized the housing market for roughly a decade. Conversely, real house prices in emerging economies resumed growing, after a brief correction in the second half of 2022. What is behind the slowdown? Inflation and slow economic growth have been the primary drivers for the cooling of the housing market. Secondly, the growing gap between incomes and house prices since 2012 has decreased the affordability of homeownership. Last but not least, homebuyers in 2024 faced dramatically higher mortgage interest rates, further contributing to worsening sentiment and declining transactions. Some markets continue to grow While many countries witnessed a deceleration in house price growth in 2022, some markets continued to see substantial increases. Turkey, in particular, stood out with a nominal increase in house prices of over 55 percent in the 1st quarter of 2024. Other countries that recorded a two-digit growth include Russia and the United Arab Emirates. When accounting for inflation, the three countries with the fastest growing residential prices in early 2024 were the United Arab Emirates, Poland, and Bulgaria.

Turkey Residential Property Price Index (RPPI): New Dwellings data was reported at 109.560 2017=100 in Feb 2019. This records an increase from the previous number of 109.500 2017=100 for Jan 2019. Turkey Residential Property Price Index (RPPI): New Dwellings data is updated monthly, averaging 68.670 2017=100 from Jan 2010 (Median) to Feb 2019, with 110 observations. The data reached an all-time high of 110.300 2017=100 in Dec 2018 and a record low of 44.860 2017=100 in Jan 2010. Turkey Residential Property Price Index (RPPI): New Dwellings data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: Residential Property Price Index.

Turkey New House Price Index data was reported at 256.130 2010=100 in Sep 2018. This records an increase from the previous number of 254.690 2010=100 for Aug 2018. Turkey New House Price Index data is updated monthly, averaging 153.740 2010=100 from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 256.130 2010=100 in Sep 2018 and a record low of 96.620 2010=100 in Feb 2010. Turkey New House Price Index data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: House Price Index.

In 2024, Turkey was the country with the highest nominal increase in house prices among the European countries under observation. In the first quarter of the year, house prices in Turkey rose by over 55 percent annually, whereas globally, the increase was three percent. These figures are based on the development of the nominal house price index, with 2010 chosen as a baseline year. Furthermore, it is important to note that the nominal index does not account for the effects of inflation, meaning that price growth in real terms was slower.

Turkey House Price Index: Konya, Karaman data was reported at 265.090 2010=100 in Sep 2018. This records an increase from the previous number of 261.280 2010=100 for Aug 2018. Turkey House Price Index: Konya, Karaman data is updated monthly, averaging 154.370 2010=100 from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 265.090 2010=100 in Sep 2018 and a record low of 94.650 2010=100 in Feb 2010. Turkey House Price Index: Konya, Karaman data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: House Price Index.

Turkey House Price Index: Van, Bitlis, Hakkari, Mus data was reported at 196.960 2010=100 in Sep 2018. This records an increase from the previous number of 194.190 2010=100 for Aug 2018. Turkey House Price Index: Van, Bitlis, Hakkari, Mus data is updated monthly, averaging 136.350 2010=100 from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 196.960 2010=100 in Sep 2018 and a record low of 95.300 2010=100 in Aug 2010. Turkey House Price Index: Van, Bitlis, Hakkari, Mus data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: House Price Index.

Graph and download economic data for Harmonized Index of Consumer Prices: Actual Rentals for Housing for Turkey (CP0410TRM086NEST) from Jan 1996 to Feb 2025 about Turkey, harmonized, rent, CPI, housing, price index, indexes, and price.

Turkey House Price Index: Antalya, Burdur, Isparta data was reported at 271.660 2010=100 in Sep 2018. This records an increase from the previous number of 267.490 2010=100 for Aug 2018. Turkey House Price Index: Antalya, Burdur, Isparta data is updated monthly, averaging 155.160 2010=100 from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 271.660 2010=100 in Sep 2018 and a record low of 97.240 2010=100 in Jan 2010. Turkey House Price Index: Antalya, Burdur, Isparta data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.EB002: House Price Index.

In 2024, Poland, Bulgaria, and Russia exhibited the highest inflation-adjusted increase in house prices among the countries under observation. In the first quarter of the year, house prices in all three countries grew by over 10 percent in real terms, whereas globally, prices declined by one percent. The country with the highest price drop was Luxembourg, at almost 14 percent. France and Germany also experienced a notable decline in prices, at seven and eight percent, respectively. These figures are based on the development of the real house price index, with 2010 chosen as a baseline year. When looking at the long-term index development, Turkey observed the biggest increase in prices in the region. When looking at the average house price in the major European markets, Norway emerged as the country with the most expensive residential property. Meanwhile, cities such as Geneva, Zurich, and London had the highest average apartment prices.

The construction cost index of residential buildings in Turkey generally increased from January 2015 to July 2024. As of July 2024, the index reached over 1,529 points, which indicated the highest value recorded throughout the observed period.

Graph and download economic data for Consumer Price Index: OECD Groups: Housing: Housing Excluding Imputed Rentals for Housing for Turkey (TURCPGRHO02GPM) from Feb 1982 to Nov 2023 about imputed, Turkey, rent, CPI, price index, indexes, and price.