Turkiye’s home prices fall in real terms for 8th straight month
AgenciesTürkiye’s home prices continued to rise in nominal terms in July but fell further behind inflation, marking an eighth consecutive month of declines in real terms, official...
Türkiye's residential property prices fell in real terms for the eighth consecutive month in July, according to official data released on Tuesday. While the price index rose 1.5 percent month-over-month and 25 percent year-over-year, it decreased 5.1 percent when adjusted for inflation. The annual consumer price index (CPI) stood at 31.75 percent for the month.
In Istanbul, home prices grew 2.7 percent month-over-month, outpacing Ankara's 2.2 percent and Izmir's 0.5 percent. The Bingöl, Elazığ, Malatya, Tunceli, Van, Bitlis, Hakkari, and Muş region experienced the highest annual increase in home prices at 35.5 percent, while Balıkesir and Çanakkale saw the smallest increase at 16.4 percent.
The CBRT's new tenant rent index, which tracks newly signed lease contracts, also declined in real terms, falling 2.6 percent year-over-year. Regional rental trends varied, with the Eastern Black Sea region recording the strongest annual increase in rents, rising 35 percent, followed by Istanbul, Ankara, and Izmir.
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