While the price bubble continues to swell in residential sales, the situation is the opposite for rent. As the homeowners were forced to find tenants at the price they wanted, the discount was inevitable. Rental prices in Istanbul, Ankara and Izmir were 25% cheaper annually.
In the big cities like Istanbul, Ankara and İzmir, the investor ownership for the new houses which are being delivered afterwards goes to the rent for low price in order not to pay the dues and earn income immediately. This is seen as an opportunity for tenant candidates who want to sit in a better place and on a secure site. In the market, apartment owners who can not surpass rent incomes last year due to the increase in housing supply have begun to abandon the habit of raising the inflation rate in order to avoid leasing their tenants.
25 Percent Discount On Rent in Istanbul!
Evaluating the rent rates in Istanbul, Istanbul Chamber of Realtors Chamber President Nizameddin Asa stated that rental prices decreased by 25 percent in Istanbul. Expressing that there are many rental apartments in Istanbul; in Besiktas last year, 2 thousand 500 pounds a flat, now it is possible to find between 2 thousand to 2 thousand 200 pounds, he said. Asa also said, “The houses that were already 200 thousand pounds have been rented by tenants to the thousand pounds now, while those of the 1100 pounds have gone down to 900 pounds.”