Tenpin

The Yorkshireman
Turkey eyes apartment rental companies to rein in price headache

Turkey eyes apartment rental companies to rein in price headache​



Extract:
Real estate property rents across Turkey have increased over recent months amid strong demand – an environment that is also said to have paved the way for uncontrolled unilateral price hikes by landlords and real estate agents.

Rents for apartments throughout Turkey have soared an average of 55% over the last year, with increases reported to have reached 100% in some regions.

This is said to have been prompted by the lack of new apartments compared to high demand and the return of university students who mostly received distance education over the last year due to the coronavirus pandemic.

Hepsi Emlak, a leading real property website, has calculated that rental prices have increased more than 50% in one year in metropolis Istanbul’s 50 neighborhoods.

Add to this high construction costs and rising consumer prices, which have been in double digits for most of the last couple of years.
 

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