Housing Price Index Increased in March

The Central Bank of the Republic of Turkey (CBRT) has released the Housing Price Index (HPI) data for March 2025. According to the announced figures, the HPI, which tracks changes in housing prices across Turkey, increased by 1.3% compared to the previous month, reaching 1325.7.

On an annual basis, the HPI recorded a 45.7% increase in March 2025 compared to the same month of the previous year. However, when adjusted for inflation, real housing prices declined by 13.8%.

Examining housing price changes in Turkey’s three largest cities, prices rose by 1.1% in Istanbul, 2.4% in Ankara, and 2.6% in Izmir compared to the previous month. Compared to the same period last year, housing prices increased by 36.2% in Istanbul, 54.5% in Ankara, and 45.1% in Izmir.

Experts state that this increase in housing prices is shaped by supply-demand imbalances, rising construction costs, and exchange rate fluctuations. The high demand for housing, particularly in major cities, contributes to the upward price trend, while inflation-adjusted prices indicate a real decline.

The CBRT is expected to closely monitor the impact of interest rate policies and economic developments on the housing market in the coming period.