2 districts remained under 5 thousand liras in Istanbul … Here are the rents of houses in 5 big cities
Decreasing housing production Rents increased rapidly due to the supply problem that started with the housing market, marriages, increasing housing demand with students and foreigners, and the effect of some opportunistic properties. Especially in the last 1-1.5 years, in many cities, especially in Istanbul, the driver could not be rented in accordance with their budget, and the tenants were faced with exorbitant pressure. While the experts draw attention to the decrease in the rental burden, it forces low and middle-income families in the desired dormitories. The research conducted by the real estate valuation platform Endeksa for 5 big cities also reveals how much rents have risen. Here are the rents from province to province, district to district…
320 PERCENT INCREASE IN 2 YEARS
Housing rents in Istanbul showed 144 percent in the last year and 319 percent in the last two years. The average square meter rent in Istanbul was 94 TL, and the average rent was 10 thousand 229 TL. For districts, the average rent goes up to 28 thousand liras. There are only 2 districts where the rent is under 5 thousand liras, and that is Silivri and Çatalca.
AVERAGE RENT IN THE CAPITAL 5 thousand 500 TL
Housing rents in Ankara have increased by 163 percent in the last year and 269 percent in the last two years. The average square meter rental price in Ankara will be 44 TL, and the average rent has been calculated as 5 thousand 466 TL. It is noteworthy that among the 17 districts examined, there are 4 districts where the rent is below 3 thousand TL. In central districts, the figure rises to 6-7 thousand liras.
PRICES INCREASED WITH DEMAND
The increase in interest due to the effect of the pandemic and the transportation projects, İzmir got its share from the rent increase. City average housing rents have increased by 154 percent in the last one year and by 269 percent in the last two years. The average square meter rental price was 63 TL, the average rent was 6 thousand 932 TL. With the demand from different provinces, the average rent in Çeşme, Güzelbahçe and Urla increased to 10-15 thousand, while in the city center districts it reached 7-8 thousand TL.
FOREIGN INTEREST WAS EFFECTIVE
The war between Russia and Ukraine also affected the real estate market. Rents in Antalya, which is the first choice of Russians and Ukrainians, increased by 213% per year and 395 percent in 2 years. The average rent in the city was 89 TL and the average rent was 10 thousand 219 TL. Choosing foreigners for higher rents in their home housing has put local residents, winners and appointed university officials in a difficult position.
DOUBLED IN 1 YEAR
According to the data, although the most suitable options are in Bursa in 5 big cities, the rent rate has also challenged those living in this city. Housing rents in the city increased by 91 percent in the last year and 173 percent in two years, and the average rent 33 TL, the average rent increased to 3 thousand 974 TL.
TIME LIMIT NOT COMPLIED
Arrangements were made after the loves in the rents. The annual season rate, made according to the 12-month CPI average, was limited to 25 percent for a period of 1 year, and it was stated that ‘the rental contracts to be renewed between 11 June 2022 and 1 July 2023 will not exceed 25 percent of the previous rent in the Dizi’. However, some homeowners of this class are still demanding exorbitant raises and pressure to evacuate.
‘There is a regression in the rate of increase’
Görkem Öğüt, General Manager of Endeksa.com, who evaluated the research, said, “After the pandemic and its star” foreign currency movements in the exchange rate and the results of the merger rent prices have increased by 155 percent in the last one year, and by 258 percent in two years. The average rent was 6 thousand 520 TL. Recently, we see that the increase in rents has slowed down. While April and May saw 15-17 percent shows a month, at the point we’ve reached, there are 4-5 percent shows. In the next period, we do not expect the rents to decrease, but there will not be high shows like in the past periods,” he said.