Rental house prices increased most along shores of Istanbul’s Bosphorus

ISTANBUL

A new report shows that the average rent increase in Istanbul has been lingering around 60 percent, while the difference reached 90 percent in some districts, especially in neighborhoods along the Bosphorus Strait and areas with mass housing.

The district of Istanbul where rent prices have increased the most is Beykoz with 92 percent, according to a report prepared in collaboration with Bahçeşehir University Center for Economic and Social Research and real estate website sahibinden.com.

Beykoz was followed by Sarıyer with 89 percent.

One overlooking the Bosphorus on the Asian side and the other on the European side of the metropolis, these two districts are followed by far suburbs with massive mass housing, such as Tuzla, Maltepe and Ataşehir.

The lowest rent increase rate was seen in Bayrampaşa with 27.6 percent, followed by Eyüpsultan with 33.3 percent and Esenler with 33.7 percent; three districts mentioned with unplanned urbanization and urban transformation plans.

The highest figure in rental fees for residences was seen in Sarıyer, and the lowest in Sultanbeyli, a working-class district on the far east of Istanbul’s Asian side and home to 30,000 immigrants.

The duration of rental residences in Istanbul was shortened by 3.9 days compared to the previous month and decreased to 22.6 days, an indication that landlords were able to find tenants faster than in September when universities opened.

With students returning to the city of Istanbul after spending a hefty amount of time in their hometowns due to the pandemic, soaring apartment rental prices in the city triggered a housing debate.