House Price Index (HPI)
The quality-adjusted change in house prices across Türkiye. Published monthly by the CBRT; historical series from 2010 to today.
The full historical series extends back to January 2010 (196 records). Hover over the chart to see period values. Source: CBRT EVDS.
How Is the House Price Index Read?
The annual change in the HPI shows the average percentage rise in home prices over a year. This is a nominal increase; if inflation is high, the real (inflation-adjusted) increase can be much lower or even negative. When evaluating housing as an investment, the nominal increase should be compared with inflation.
The Relationship Between House Prices and Interest Rates
When mortgage rates rise, demand contracts and price increases slow; when rates fall, the opposite occurs. Therefore the HPI is more meaningful when evaluated together with mortgage interest rates.