Over the past year and a half, rental rates in Turkey have been growing especially rapidly due to a number of factors: a reduction in the construction of new housing, an abundance of marriages, an increase in demand for apartments from students, as well as foreigners who have come to the country.
Although experts emphasize that the rate of rent growth has begun to decline, the desired figures still cause difficulties in finding rental housing for low- and middle-income families.
According to a study conducted in the 5 largest cities of Turkey, the average rent in Istanbul and Antalya exceeded 10,000 Turkish lira (TL); in the capital Ankara – for 5,000 TL, in Izmir – for 7,000, in Bursa – for 4,000.
So, rent in Istanbul has risen in price by 144% over the past year and by 319% over the past 2 years. The average rent per square meter in the metropolis is now 94 TL per square meter, and the average rent per unit of housing is 10,229 TL.
In Ankara, the capital of the republic, housing rents have increased by 163% over the past year and by 269% over the past two years. While the average cost of renting a square meter is 44 TL, the average rent per unit of housing equaled the amount of 5,466 TL. Among the 17 districts of Ankara where the study was conducted, there were four where the rent is still below 3,000 TL; at the same time, in the central districts of the city, the amount increases to 6,000-7,000 TL.
In Izmir province, rents have increased by 154% over the past year and by 269% over the past two years. The average cost of renting square meters now is 63 TL, and the average rent per lot is 6,932 TL. At the same time, Cesme, Guzelbahce and Urla, where demand is increased, are already 10,000-15,000 TL; in the central districts of Izmir itself – 7,000-8,000 TL.
The conflict between Russia and Ukraine could not but affect the real estate market. Rent in Antalya - the «favorite» of Russian and Ukrainian immigrants - increased by 213% in one year and by 395% in two years. The average rent per square meter in the city was 89 TL, and the average rent per unit of housing per month was 10,219 TL, writes Emlakkulisi with reference to the results of the study.
Lawyers remind their fellow citizens: now the amount of rent increases during the prolongation of annual contracts is limited at the legislative level, and unjustified overstatement of rates is fraught with serious sanctions up to prison.
Earlier we reported that from 2023 the amount of remuneration for a realtor will increase, largely due to the increased number of disputes and court cases between tenants and homeowners.