According to a freshly published study, there are no rental apartments left for workers who receive the minimum wages of around 5,000 Turkish Liras (TL). The average rent for homes in major, most sought-after districts, such as Kadıköy in Turkey’s largest megalopolis, has exceeded TL 19,000 and currently equals TL 19,450.
As of the end of June, the average rent in this city reached the level of almost TL 13,000. There are very few rental homes under TL 8,000 left in Istanbul’s central districts. For instance, we could find only two agency listings offering rental apartments in Kadıköy affordable for people with income under TL 5,000 and only 13 listings suitable for workers receiving a slightly higher salary of TL 5,500.
Players in the real estate market demand that the authorities take prompt action and solve the problem of pricing in the rental market at least in the short term.
Meanwhile, local residents frequently resort to finding roommates for rental homes. Real estate agents are emphatically warning against fraudsters who have energized recently.
However, not only tenants but also landlords are facing problems: home owners complain that foreigners “snatched all rental apartments and now refuse to pay”.