According to the Central Bank (TCMB), housing prices rose 0.9% monthly and 23% annually in August but fell 6.5% annually in real terms adjusted for inflation. The real decline extended to a ninth month, while the new-tenant rent index fell 3.9% in real terms in July.
In Istanbul, the monthly increase was 1.9 percent, in Ankara 1.5 percent, and in İzmir 2.7 percent. The annual increase remained at 6.3 percent in Istanbul. The new tenant rent index declined by 3.9 percent annually in real terms in July.
