According to data obtained by CEESS Global, commercial real estate prices decreased by 4.4 percent in real terms, according to the results of the Commercial Real Estate Price Index (CPRI) for the second quarter of 2024 announced by the Central Bank of the Republic of Turkey (CBRT).

Compared to the previous quarter, the CPI increased by 7.3 percent in nominal terms. However, on an annual basis, the index increased by 64.7 percent in nominal terms, while there was a 4.4 percent decline in real terms.

According to CEESS Global's analysis, these data indicate a significant real depreciation in the commercial real estate market.