Property Rent Rate Increase in Istanbul

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 (%)
Kucukcekmece 3300 4158 26
Esenyurt 4146 4865 17
üsküdar 4740 5515 16
Beşıktaş 11926 13318 12
Beylikdüzü 2392 2679 12
Kadikoy 7841 8677 11
Esenyurt 2237 2487 11
Şışlı 5452 5953 9
BüyükÇekmce 3323 3613 9
Bakırköy 9196 9813 7
Kağıtana 3988 4251 7
Avcılar 2723 2915 7
Tuzla 3156 3384 7
Beycoz 8492 9000 6
Sılvrı 2480 2640 6
Umranıye 3595 3818 6
Arnautkoy 2352 2489 6
Şıle 3600 3772 5
Zeytınburnu 4401 4601 5
Sancaktepe 2502 2632 5
Pendık 3000 3120 4
Adalar 6689 6885 3
Bağcılar 3212 3300 3
Maltepe 4191 4303 3
Çekemköy 2999 3089 3
Esenler 3103 3158 2
Fatıh 4178 4200 1
Bayrampaşa 3663 3711 1
SultanGazı 2588 2613 1

 

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 (%)
Zeytınburnu 19,76 23,22 18
Bağcılar 14,4 16,92 18
Ata;ehir 18,41 21,79 18
Kucukcekmce 19,2 21,25 11
Buyukcekmce 13,15 14,4 10
Esenler 15,09 16,53 10
Sultanbeli 10,09 11,03 9
Başakşehır 19,8 20,5 9
Beykoz 17,23 18,68 8
BayramPaşa 16 17,28 8
Beyoğlu 29,38 31,33 7
Kaıghtana 19,23 29,59 7
Esenyurt 14,68 15,67 7
Sancaktepe 10,71 11,42 7
Bakırköy 27,6 29,25 6
Saryıer 33,45 35,33 6
Pendık 11,69 12,38 6
Adalar 21,75 22,83 5
Sılvrı 9,8 10,29 5
Tuzla 12,92 13,58 5
Beylıkdüzü 14,24 15 5
Kartal 14,4 15 4
Sultangazı 11,35 11,76 4
Fatıh 21,33 21,93 3
Kadıköy 23,81 24,62 3
Şıle 14,84 15,32 3
Umraniye 14,65 15,9 3
Beşıktaş 31,33 32,05 2
Eyüpsultan 19,81 20,15 2
ÜSKÜDAR 18,43 18,8 2
Avcılar 14,1 14,4 2
Maltepe 16,43 16,74 2
Çekmeköy 12,22 12,42 2