House Prices/GDP per Capita in Turkey compared to Europe
Turkey: House price to income ratio
The house price to income ratio is the ratio of the cost of a typical upscale housing unit of 100 square metres, compared to the countrys GDP per capita. Normally this ratio will be much higher in low income countries than in high income countries.
The formula is: (Price per square metre / GDP per capita)*100. The house price to income ratios published by the Global Property Guide are based on the Global Property Guides own proprietary in-house research, but we use the IMFs GDP per capita figures.
Turkey does not publish official house price or rents time-series. The best source for house price statistics is REIDIN, which has a monthly composite house sales price index starting June 2007. General economics statistics for Turkey come from the Turkish Central Bank, State Planning Organization, and Turkish Treasury.