RESIDENTIAL PROPERTY PRICE INDEX ON THE RISE

The Residential Property Price Index (RPPI) increased by 2.8% to 185.3 points in July, compared to the previous month, according to the Central Bank. The Residential Property Price Index rose by 2.7% in Istanbul, 2.3% in Ankara and 2.3% in Izmir in July, on a monthly basis. The Residential Property Price Index also increased by 31.0% in nominal terms and by 10.2% in real terms in July, compared to the same month of the previous year. The RPPI surged by 28.1% in Istanbul, 27.1% in Ankara and 31.4% in Izmir in July on an annual basis.