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Property Rent Rate Increase in Istanbul

on June 8, 2020
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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 NameUnit Price Before Outbreak (TL / m2)Unit Price After Outbreak (TL / m2)Change Rate (%)
Kucukcekmece3300415826
Esenyurt4146486517
üsküdar4740551516
Beşıktaş119261331812
Beylikdüzü2392267912
Kadikoy7841867711
Esenyurt2237248711
Şışlı545259539
BüyükÇekmce332336139
Bakırköy919698137
Kağıtana398842517
Avcılar272329157
Tuzla315633847
Beycoz849290006
Sılvrı248026406
Umranıye359538186
Arnautkoy235224896
Şıle360037725
Zeytınburnu440146015
Sancaktepe250226325
Pendık300031204
Adalar668968853
Bağcılar321233003
Maltepe419143033
Çekemköy299930893
Esenler310331582
Fatıh417842001
Bayrampaşa366337111
SultanGazı258826131

 

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 (%)
Zeytınburnu19,7623,2218
Bağcılar14,416,9218
Ata;ehir18,4121,7918
Kucukcekmce19,221,2511
Buyukcekmce13,1514,410
Esenler15,0916,5310
Sultanbeli10,0911,039
Başakşehır19,820,59
Beykoz17,2318,688
BayramPaşa1617,288
Beyoğlu29,3831,337
Kaıghtana19,2329,597
Esenyurt14,6815,677
Sancaktepe10,7111,427
Bakırköy27,629,256
Saryıer33,4535,336
Pendık11,6912,386
Adalar21,7522,835
Sılvrı9,810,295
Tuzla12,9213,585
Beylıkdüzü14,24155
Kartal14,4154
Sultangazı11,3511,764
Fatıh21,3321,933
Kadıköy23,8124,623
Şıle14,8415,323
Umraniye14,6515,93
Beşıktaş31,3332,052
Eyüpsultan19,8120,152
ÜSKÜDAR18,4318,82
Avcılar14,114,42
Maltepe16,4316,742
Çekmeköy12,2212,422

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