According to Eurostat, Turkey’s home prices (for both purchase and rent) are almost the fastest-growing in Europe. Turkey is an undisputed leader by selling prices but other countries compete with it by rent rates (at least according to official data).
For instance, the rent in Turkey grew by an average of 20% across the country, which is less than in Slovenia (26.4%) and Estonia (24.5%).
As of spring, rental homes became only 1.7% more expensive across the European Union as a whole. Rent rates in Austria even fell (by -0.9%).
As of May 2022, the rent has increased as follows in some other countries over the past 12 months:
- Poland: by 13.9%
- Ireland: by 10,1%
- Bulgaria: by 6.3%
- Belgium: by 2.9%
- Germany: by 1.6%
However, this is official data which is drastically different from the actual values. For instance, rental homes became 329% more expensive in Antalya Province over the year. In Istanbul, the average monthly payment for residential property already exceeded 19,000 Turkish Liras.