Rental prices increase across Turkey

Rental prices increase across Turkey

Turkish university and school students have not attended face to face lessons for over a year due to the pandemic. With the recent news that schools and universities are opening students are rushing to rent homes close to their chosen university. Therefore, some cities have seen a 40% increase in rent prices.

It will accelerate in September 

Research suggests that there was a dynamism in the real estate market with the announcement of the university exam results on August 4, stated that in the last year, rents have increased by 20 percent on average throughout the country, and these increases are at the level of 30-40 percent, especially in metropolitan cities. Stating that the demand will be even higher in September for example, a student whose rent was a thousand liras in Istanbul before the pandemic, will have to pay an extra 400-500 thousand liras after September. These increases are higher especially in districts such as Şişli, Beşiktaş, Kadıköy in Istanbul.

Eskisehir ranked first 

According to the research Eskişheir, had the highest rent increase on a city basis. Rents in Eskişehir have increased by 37.95 percent on average in the last 1 year. Ankara was followed by 29.09 percent, Antalya with 27.61 percent, and Muğla with 27.21 percent. The increase was recorded as 20.89 percent in Istanbul and 14.72 percent in Izmir. It was seen that the most expensive rents were in Istanbul. 

With rent prices increasing across the whole of Turkey it’s becoming even more necessary to purchase your own home. Whether you come to Turkey on holiday or you live here full time, now is the time to buy. Summer Homes estate agents are ready to help you to take the next step in purchasing your home.