The rate of increase in housing prices, which have been on a rapid rise since September 2021 in Turkey and seen peaks in a short time, has slowed down. It was observed that there was a decrease in rental and sale prices in many cities, especially in Istanbul and Antalya.
While courthouses are filled with rent and eviction cases due to rents that have increased by 153 percent in the last year and 250 percent in the last 4 years throughout Turkey, the expected decline has begun to be observed. Rents had peaked in April with a monthly change of 18.2 percent across Turkey. As of August, the rate of increase in housing sales and rental prices slowed down throughout Turkey. In some districts of Istanbul and in 7 cities in Anatolia, rents slowed down between 4 and 13 percent. One of the cities that experienced a decline in August was Antalya. In Antalya, rents fell by 7 percent, in Burdur by 4 percent, in Corum by 8 percent, in Izmir by 4 percent, in Mardin by 8 percent, in Sinop by 13 percent, in Yalova by 7 percent.
There are also districts of Istanbul
6 percent and 8 percent increase in rentals in Istanbul were seen in June and July respectively. Beşiktaş, Bahçelievler, Ataşehir, Çekmeköy were districts where rental prices fell in the last month.
It is stated that the decline in these districts is experienced both as a result of saturation due to high average prices and as a result of shifting demand between regions and decelerating in some regions.
Normalizing in big cities
Evaluating rental housing prices some experts say, “with the month of June, the increase rates started to follow a horizontal course. We can say that the rise has stopped and the downward movement has started, especially in Antalya, where hard price transitions have been observed in the recent period. We have followed that rental prices in Antalya have fallen by 7 percent.”
SOURCE: dunya.com/gundem/kiranin-atesi-dustu-haberi-666134
