Bahçeşehir University Center for Economic and Social Research (BETAM) has published the Note for Rental Housing Market: January 2023, titled “The rate of increase in rental prices is rising – Rent prices in districts of Istanbul”.
Accordingly, while the annual rate of increase in the average square meter price of rental housing in Turkey was 172.9 percent in December, the average square meter price of rental housing advertisement increased to 71 TL. On the other hand, the annual rent increase rate was 150 percent in Istanbul, 160.9 percent in Ankara and 162.2 percent in Izmir.
Average square meter prices for rental housing were 100 TL in Istanbul, 47 TL in Ankara and 68.2 TL in İzmir. Adjusted for inflation (real) rent prices also increased both throughout the country and in three metropolitan cities.
The number of rented houses decreased
Details of the monthly changes in the ratio of the number of rented houses to the total number of rental advertisements showed that both the number of rental houses and the number of rented houses decreased. Compared to the previous month, the number of rental advertisements decreased by 0.4 percent from 215 thousand 260 to 214 thousand 436, and the number of rented houses decreased by 4.3 percent from 39 thousand 338 to 37 thousand 651.
Rental housing demand indicator increased by 0.4 percent compared to November. On the other hand, the demand for rental housing increased by 7.4 percent compared to the same month of the previous year.
While the ratio of the number of rented houses used as an indicator of vitality in the rental housing market to the number of rental advertisements decreased throughout the country, in Istanbul and Izmir, it increased in Ankara. The age of closed rental advertisements, which is another indicator of vitality in the rental housing market and which measures how long rental advertisements are published, has increased across the country and in three metropolitan cities.
The highest increase is in Kağıthane
The rent price increase rates in the districts of Istanbul, which constitute the original subject of this month’s report, were seen in Kağıthane with 257.8 percent and the lowest increase in Beykoz with 96.4 percent. With 190.8 percent in Esenler, 185.5 percent in Sultanbeyli and 183.3 percent in Maltepe, the districts with the highest rental price increases were calculated. Gaziosmanpaşa 114.3 percent, Esenyurt 110.1 percent and Sarıyer 108.9 percent increase were recorded as the districts with the lowest sales price increases.