BETAM: Rental prices have  increased by an average of 182.7 percent annually

Based on BETAM’s study, the average annual increase in the price of rental housing advertised square meters across Turkey was 182.7 percent in April 2022 while the average rental housing advertised square meter price increased to 48.5 TL.

According to the study, the annual rent increase rate was 140 percent in Istanbul, 133.9 percent in Ankara and 110.8 percent in Izmir. As a result of these developments, the average rental housing and square meter prices increased to TL 60 in Istanbul, TL 29 in Ankara and TL 38.3 in Izmir.

In BETAM’s work following information was shared:

“Inflation-adjusted (real) rental prices have increased both across the country and in the three major provinces. Although the rental housing demand indicator that we published for the first time last month was 6 percent behind last month, demand is still at a strong level. The number of rental ads in which we measured the supply of rental housing fell across the country, in Istanbul and Ankara, while it rose in Izmir. However, the ratio of the number of rented houses to the total number of rental ads, which shows how much of the rental ads are rented, has also decreased across the country and in the three major provinces compared to last month. The age of closed rental ads, which measures how long rental ads have been on the air, has decreased both nationwide and in the three major provinces.”

(Note: BETAM is a research center established by BAHÇEŞEHİR UNIVERSITY, in Istanbul)