The Residential Property Price Index (RPPI) increased by 13.5% to 317.6 points in February, compared to the previous month, according to the Central Bank.
The Residential Property Price Index climbed by 14.9% in Istanbul, 16.0% in Ankara and 12.7% in Izmir month-over-month in February.
The RPPI surged by 96.4% in nominal terms and by 26.9% in real terms in February, compared to the same month last year. Further, the index jumped 106.3% in Istanbul, 97.1% in Ankara and 90.1% in Izmir in February on an annual basis.
The RPPI soared 102.2% for new dwellings and 95.3% for existing dwellings in the same period across the country. Average unit price in Turkey, meanwhile, has reached TRY 8,640 per square meter as of February.