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Turkey: Residential Property Price Index - September 2022

IM Insights
By IM Insights
1 week ago
Turkey: Residential Property Price Index - September 2022


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  1. RESIDENTIAL PROPERTY PRICE INDEX DATA GOVERNANCE AND STATISTICS DEPARTMENT SURVEYS AND INDICES DIVISION SEPTEMBER 2022
  2. Residential Property Price Index | September 2022 Residential Property Price Index (RPPI) In September 2022, RPPI increased monthly by 4.9 percent, recorded an annual increase of 189.2 percent in nominal terms and 58.0 percent in real terms. Table 1*: Residential Property Price Indices (2017=100) and Unit Prices Residential Property Price Index Residential Property Price Index for New Dwellings Residential Property Price Index for Existing Dwellings Unit Prices (TL/m2)** 575.2 (189.2%) 601.7 (178.8%) 568.2 (190.6%) 15863.3 ₺ 530.9 (212.1%) 566.4 (204.7%) 531.2 (213.9%) 25714.8 ₺ 551.1 (196.0%) 681.0 (197.4%) 542.1 (198.8%) 11323.8 ₺ 595.6 (185.8%) 630.3 (189.7%) 584.9 (184.6%) 18761.3 ₺ *Residential Property Price Index, Residential Property Price Index for New Dwellings and Residential Property Price Index for Existing Dwellings are independent indices produced by using different samples and different strata in accordance with the calculation method. **Square Meter Prices are constructed by using the Stratified Median Price method. Figures in parentheses indicate annual percentage changes. 1
  3. Residential Property Price Index | September 2022 Graph 1: Residential Property Price Index (Level, 2017=100) 700 600 500 400 300 The Residential Property Price Index (RPPI) (2017=100), which measures quality adjusted price changes of dwellings in Türkiye stands at 575.2 in September 2022 by a monthly increase of 4.9 percent. 200 100 09.22 01.22 07.21 01.21 07.20 01.20 07.19 01.19 07.18 01.18 07.17 01.17 07.16 01.16 07.15 01.15 0 Graph 2: Residential Property Price Index (Annual % Change) Nominal Real (CPI Adjusted) The RPPI increased annually by 189.2 percent in nominal terms and by 58.0 percent in real terms. 09.22 01.22 07.21 01.21 07.20 01.20 07.19 01.19 07.18 01.18 07.17 01.17 07.16 01.16 07.15 01.15 200 180 160 140 120 100 80 60 40 20 0 -20 Graph 3: Residential Property Price Index for Three Major Cities (Level, 2017=100) İstanbul Ankara İzmir 700 600 500 400 300 200 In September 2022, the RPPI increased monthly by 4.6, 4.3 and 5.8 percent in İstanbul, Ankara and İzmir respectively. İstanbul, Ankara and İzmir recorded an annual increase of 212.1, 196.0 and 185.8 percent respectively. 100 09.22 01.22 07.21 01.21 07.20 01.20 07.19 01.19 07.18 01.18 07.17 01.17 07.16 01.16 07.15 01.15 0 Residential Property Price Index has been published as part of the “Official Statistics Programme (OSP)”. Real changes are calculated using the average of the annual rate of changes in CPI (%) of the reference month and the preceding and succeeding months, in order to comply with the data set used in the calculation. 2