Hedonic Housing Price Index Rose 1.30 Percent In February

The Central Bank of the Republic of Turkey published HKFE data for February 2017. The Hedonic index of housing prices (HKFE) in February rose by 1.30 percent compared to the previous month and amounted to 198.81 points.

HKFE was designed to monitor the observed quality and properties of houses in Turkey over time and to track price changes adjusted for quality.

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Hedonic housing price indices in three major cities in February 2017 are estimated at: relative to the previous month there was an increase in Istanbul by 1.23 percent, in Ankara by 0.70 percent and in Izmir by 1.44 percent. Thus, the index values, in comparison with the same month last year, in Istanbul, Ankara and Izmir 11.46 percent, 9.47 percent and 16.18 percent respectively.

In February, the housing price index (KFE) increased by 1.07 percent compared to the previous month and reached 231.05 points. CFE increased by 13.29 percent in February compared to the same month in 2016. According to published data, the price of housing per square meter in three large cities amounted to 3,647.11 liras in Istanbul, 1 693.29 liras in Ankara and 2 318.25 liras in Izmir.

The new housing price index (YKFE) rose in February by 1.80 percent to 221.30. YKFE increased by 12.60 percent in February compared to the same month last year. The index of prices for non-residential premises (YOKFE) in February increased by 0.52 percent compared to the previous month and increased to 230.12. YOKFE increased by 13.50 percent in February compared to the same month last year.

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    yasemin Written by:

    Yasemin Kılıç yaseminkilic@istanbulinvestments.com

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