Renting a house in Istanbul’s center is a fantasy for retirees, students and minimum wage earners

It is becoming increasingly difficult for retirees, students and minimum wage earners to rent a house in the central areas of Istanbul. According to reports, these three groups can rent houses at places such as Arnavutköy and Çatalca which are very far from the city center, only.

The report, which was prepared on the basis of the fact that the aforementioned groups spend all their income on rent, was based on more than 500 thousand samples made available to the real estate market in 39 districts of Istanbul. According to the reviews, the districts where pensioners, minimum wage students and students are most likely to find apartments for rent in Istanbul were Arnavutköy and Çatalca – very far from the city center.

According to the news of Leyla Ilhan from How to Build an Economy (Nasıl Bir Ekonomi), the rate of pensioners finding a rented house in Besiktas was calculated as 3 percent. This rate is 4 percent in Kadıköy, Bakırköy, Adalar districts, 5 percent in Sarıyer and 6 percent in Şişli. The districts most suitable for the budget of pensioners were Arnavutköy with 55 percent, Çatalca with 54 percent, Silivri with 53 percent and Sultanbeyli with 47 percent.

RENT FOR TWO OF THREE HOUSES IN TOWN ARE ABOVE MINIMUM WAGE

When the real estate market was analyzed on the minimum wage, it was found that 33 percent of the rental apartment supplies declared in Istanbul were below the minimum wage.

If a minimum wage earner allocates all of his salary to rent expenses, the rate of finding a rented house in Besiktas is 9 percent, 12 percent in Sariyer, 15 percent in Kadıköy and Bakırköy. This rate rises to 89 percent in Çatalca and up to 87 percent in Arnavutköy and Silivri districts.