Despite the increase in the number of office projects that constitute the most important stance of the commercial real estate sector, the recession process continues. The expected recovery in the first quarter of the year in the office market is not expected, but the new offices are waiting for the tenants. The new projects that will deliver the rates of vacant offices in the central business areas of Istanbul will reach 20 percent. Some construction companies also manage the lease of the offices they sell to satisfy their customers. Those who keep the offices within the plan are planning to sit in the hall with corporate tenants.
REIDIN Office Leasing Index Looking at the fourth quarter results of the year 2016, office rents decreased compared to the previous quarter quarter data. Within 21 districts of Istanbul, Esentepe was again the region with the highest rental value. Kavacik and Kartal were in the last order. Esentepe continued to be the region with the highest rent value in the upper price segment with a value of 41.50 USD per square meter and the lower price segment with 26.30 USD. In the regions with the lowest rental income, Pendik came to the front with 14.37 dollars in the upper price segment and 6.65 dollars in the lower price segment.
The downsizing of office space is reflected in the dues as well as the rental fees. In addition to payable rentals, office residents play a major role in the choice of a new generation of offices (meeting room, secretariat, callcenter, cafeteria) to offer more economic opportunities in common areas.