How Much Rent Prices Have Increased In Istanbul In 10 Years?

Istanbul is one of the fastest growing cities in Turkey. In addition to a powerful economy, the industrial and banking sectors, the real estate market causes huge interest of among potential buyers and investors. Unique location city attracts those who want to buy property or invest in it.

According to the Statistical Institute of Turkey in the previous year, the proportion of housing sales in Istanbul was about 17.5% of total sales in the country. On the other hand, the demand for rental housing market also shows the movement to increase. The cost of renting an apartment in Istanbul will definitely interesting not only for tenants but also homeowners who want to get rental income.

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According to the Statistical Institute for the last 10 years in Istanbul property price was increased by 124%. While the rental price is about 7 TL per square meter of the area the beginning of 2006, then at the end of 2016 the price per square meter is an average 16 Turkish liras. At the same time, most districts of Istanbul showed a stable growth rate of rent prices by more than 100% over the same ten-year period.

According to statistics in the period from December 2006 to December 2016 the leader in the growth rate of the rental prices in Istanbul was the Sarıyer district (the price of rent for the last 10 years it has increased by 172%). the most minimum price increase was observed in the district Esenyurt (about 57%).

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    yasemin Written by:

    Yasemin Kılıç yaseminkilic@istanbulinvestments.com

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