The real decline in housing prices has continued for 20 months

According to data from the Central Bank (CBRT), the real decline in housing prices has been continuing for 20 months.

According to the Central Bank Housing Price Index, housing prices across Türkiye increased by 1.7 percent in September compared to the previous month, reaching 195.7 percent.

While the annual increase remained at 32.2%, inflation-adjusted prices saw a real decrease of 0.8%. Thus, the series of real declines that began in February 2024 reached its 20th month.

The last real increase was seen in January 2024 at 1.4 percent.

According to the Turkish Statistical Institute (TÜİK), housing sales reached an all-time high for September last month, with 150,657.

The highest real decrease in housing prices was 14.9 percent in May 2024. The rate of decline slowed in September, with the lowest real decline in the last 20 months being recorded at 0.8 percent.