Rental housing seeking begins with the coming of summer. It is expected that this seeking will pick up speed especially after school season and Ramadan. So what is the situation in rental housing prices? Is there an increase in rental prices in big cities? Will rental prices increase more?
How Much Have Rental Prices Increased?
While the prices of house for sale are in an increase, rental prices are also going on increasing. This increase in rental prices also reflects on May results of real estate indexes which are prepared by Reidin. Based on Turkey’s Rental House Price Index, which contains 7 big cities, there is an increase at 1.78 % in May compared to previous month, and at 25.33 % compared to the same month of previous year.
Based on Turkey’s Rental House Price Index, which contains 30 big cities, there is an increase at 1.64 % in May compared to previous month, and at 20.48 % compared to the same month of previous year. House for sale prices have increased at 16 % throughout Turkey in the recent year.
Will Rental Prices Increase?
While house for sale prices keep increasing, there are some remarkable increase in rental prices in some cities. This increase refers to the effects of Syrian immigrants besides urban transformation. It is stated that there is a record increase in rental prices especially in Istanbul, in which there are intense urban transformation works. It is says that there is a great increase in rental prices because of the banks that move their central offices from Ankara to Istanbul in Atasehir, because of Syrian immigrants in Gaziosmanpasa, Esenyurt, Gungoren, Esenler, Bagcilar, Fatih, because of urban transformation in Kadikoy. However, real estate experts state that there will be no new increase in rental prices this year.