Rent controls initiated by the Ministry of Commerce to prevent manipulation of the real estate market and restrictions on so-called "tourist rentals" (short-term rental housing) have had their effect. According to Tolga İdikat, CEO of Emlakjet, homeowners who raised prices began to reduce them after inspections and fines.
As a result, the monthly rent increase, which over the past 12 months has risen by 77% on average in the country, is 0%. In other words, the rental rates remained the same. However, rents have fallen in price for example, in Antalya, where there is an outflow of foreigners (the main "source of income" for many homeowners over the past year and a half).
The efforts of the Ministry of Commerce have helped bring rental rates closer to real ones. Nevertheless, some of the most sought-after areas, such as megacities, have significantly increased their monthly rents. These are the districts of Konak and Bornova in Izmir; Beşiktaş, Kadıköy, Sarıyer in Istanbul; Çankaya and Yenimahalle in Ankara. For example, the increase in rental rates compared to the same period of last year was 111% in Çankaya, 23% in Beşiktaş, 45% in Kadıköy, 33% in Sarıyer, 103% in Yenimahalle, 80% in Konak, 80% in Bornova.
Earlier, analysts named the cheapest areas of Istanbul to rent housing.