Property Rent Rate Increase in Istanbul
Properties sales price increased by 7%, while rent increased by 5% After Coronavirus epidemic in Istanbul
The pandemic affected and still affecting the whole world, but fortunately, that was not in Istanbul as we noticed a clear demand change in real estate sales and rentals before and after March 11 the date when the effects of the coronavirus epidemic began to appear in Turkey.
According to the analysis made by Endeksa regarding this, the properties sales demand in Istanbul increased by 7%, and the rental price increased by 5%, which means The current average residential square meter sales price throughout Istanbul has increased to 3.908 TL and the rental price to 18.51 TL.
According to the current data of Endeksa, after the effect of the epidemic started to be noticed, the house sales price demands in Küçükçekmece increased by 26% to 4.158 TL / m2. There was a 17% increase in Başakşehir and the unit price was 4,865 TL / m2; To 5.515 TL / m2 with 16% increase in Üsküdar; To 13,318 TL / m2 with an increase of 12% in Beşiktaş; In Beylikdüzü increased by 12% to 2.679 TL / m2.
Districts with an increase in the demand for residential sales in Istanbul :
|District Name||Unit Price Before Outbreak (TL / m2)||Unit Price After Outbreak (TL / m2)||Change Rate (%)|
The rental rate also increased, The districts with the highest increase in the rents demanded in the districts of Istanbul were Zeytinburnu, Bağcılar, and Ataşehir, with an increase of 18%. The current square meter rental price requested in Zeytinburnu was 23.22 TL, 16.92 TL in Bağcılar, and 21.79 TL in Ataşehir.
The districts with the highest increase after these three districts were Küçükçekmece with 11%, Büyükçekmece, and Esenler with 10%. The current rent in Küçükçekmece is 21.25 TL, 14.4 TL in Büyükçekmece and 16.53 TL in Esenler.
Districts with an increase in the required housing rent in Istanbul :
|Before Outbreak (TL / m2)||After Outbreak (TL / m2)||Change Rate (%)|