The construction production index increased by 10.8 in November, raising the issue of a potential decrease in housing prices.

```html

The construction production index showed a year-on-year increase of 10.8% in November 2024. The Turkish Statistical Institute (TÜİK) announced the construction production index for November 2024.

TÜİK completed its studies on the subject and announced the index for the first time with 2021 as the base year.

Accordingly, construction production recorded a year-on-year increase of 10.8% in November last year. When examining the sub-sectors of construction, the index increased by 14.3% in the building construction sector, 8.3% in the construction of non-building structures, and 0.9% in private construction activities in November 2024 compared to the same month of the previous year.

The construction production index increased by 3.2% on a monthly basis in November 2024. The index showed an increase of 3.7% in the building construction sector, 1.4% in the construction of non-building structures, and 2.9% in private construction activities compared to the previous month in November 2024.

EXPECTATION OF A DECREASE IN HOUSING PRICES

On one hand, the gradual decrease in interest rates has begun, and on the other hand, expectations for a decrease in prices have increased in parallel with the increase in housing production. With the issue of Syrians returning to their country added to this situation, the focus shifted to the advertised prices in the market.

PRICES ARE INCREASING INSTEAD OF DECREASING

However, the real price situation in housing is not progressing in the same direction as market expectations. In some cities, especially in Hatay, where Syrians have largely departed, a decrease of up to 30% in housing prices has been recorded. Experts state that the upcoming meetings of the Central Bank are of great importance for the decrease in housing prices across the country.