Housing prices increased by 4.7% in January, marking the fastest growth in 16 months. Despite this, the price hike remained below January inflation. Realistically, housing prices dropped by 7.2% compared to the previous year. In Turkey, housing prices rose by 4.7% in January, reaching 165.9. This indicates the fastest increase in housing prices in 16 months. However, the increase in housing prices remained below the 5.03% inflation rate. According to the Central Bank data, the Housing Price Index (HPI) rose by 31.9% nominally in January compared to the same month the previous year. However, it decreased by 7.2% in real terms. Examining the three major cities, housing prices increased by 3% in Istanbul, 5.7% in Izmir, and 4.9% in Ankara on a monthly basis. Compared to the same month the previous year, the index values in Istanbul, Ankara, and Izmir increased by 29.6%, 36.6%, and 29.6%, respectively.