Crumbling homes offered for sky-high rents in Istanbul

Gülistan Alagöz – ISTANBUL

As Istanbul’s rental market continues to surge, even the most rundown homes are attracting high prices, leaving many potential tenants shocked by the living conditions on offer.

Basement homes without daylight, damp walls, broken cabinets and unsanitary kitchens and bathrooms are being listed for as much as 10,000 Turkish Liras (around $290).

Advertisements for these so-called “affordable” homes highlight properties that resemble ruins more than residences.

Many of these homes, particularly those in basements with windows no bigger than boxes, pose serious health and safety risks.

Some examples include a 1+1 shack with no flooring or kitchen cabinets in Beyoğlu, where rent is set at 6,000 liras per month.

In Eyüp, a dilapidated 1+1 is being rented for 10,000 liras, while a 50 square meter, 1+0 house in Esenler, advertised for up to four people, offers barely enough space for one to live comfortably.

The house, which costs 8,000 liras per month, is nearly falling apart due to age and neglect.

While no one is forced to rent these homes, rising prices and limited availability leave potential tenants with no other choice.

A September report from a real estate portal, in cooperation with Bahçeşehir University’s research center, revealed that rents across Türkiye have risen by 47 percent in just one year.

The average price per square meter in August reached 185 liras. In other words, the rent for a 100-square-meter home stands at 18,500 liras.

The annual rent increase rate was announced as 46.7 percent in Istanbul, 56 percent in Ankara and 62.5 percent in İzmir.

In Istanbul, the average monthly rent for a 100-square-meter home is now 24,400 liras. In Ankara, it’s 18,000 liras, and in İzmir, 21,800 liras.

The figures are average rates, but in newly built, earthquake-resistant properties, rent prices can be double.