The rent for housing in Turkey has increased on average by more than 100% over the year. However, there are a number of areas where tariffs are growing much faster, and this process will remain more intensive in them than in others.
According to the general director of the real estate appraisal company EVA Gayrimenkul Değerleme, Jansel Turgut Yazidji, such districts will remain Beylikduzu, Avcylar, Esenyurt, Bashaksehir, Kucukchekmeje, Bagcylar, Silivri, Pendik, Umranie, Kartal and Tuzla.
Istanbul is a city with a high population density, while the population as a whole has an average income level. So, according to the expert, in terms of the balance of supply and demand, people have to look for real estate with more reasonable rental rates in not the most central locations. For this reason, EVA Gayrimenkul Değerleme expects that the demand for areas located further from the city center will increase; accordingly, rents will rise steadily – and faster than in others. Especially on the European side (Beylikduzu, Avdzhylar, Esenyurt, Bashakshehir, Kuchukchekmedje, Bagdzhylar, Silivri) and on the Anatolian side (Pendik, Umranie, Kartal and Tuzla).
In order to «slow down» the growth of rental rates, it is very important for the authorities to form the rental value of housing, taking into account, among other things, the level of income and other characteristics of the population, as well as to expand the range of apartments available for rent (including social rent). It is already possible to see what efforts are being made to establish a balance of supply and demand for housing. Converting offices into residential residences will be a good solution in the short term; but it is worth thinking about medium- and long-term solutions - for example, to «open» new areas for zoning for rental construction, as well as to occupy empty areas in Istanbul with similar housing.
Earlier we reported that the prices for the purchase of housing in the largest Turkish metropolis are growing even faster than rental rates.