RESIDENTIAL PROPERTY PRICE INDEX SOARS 77.4%

The Residential Property Price Index (RPPI) jumped 77.4% in January, compared to the same month last year, according to the Central Bank. The RPPI rose by 21.2% in real terms in the same period. The RPPI surged by 13.1% to 279.7 points in January, compared to the previous month. The RPPI increased by 14.1% in Istanbul, 12.5% in Ankara, and 13.6% in Izmir in January month-over-month. The RPPI soared 83.5% in Istanbul, 73.5% in Ankara, and 73.1% in Izmir in January yearover-year.