According to the index data published by the real estate platform Hepsiemlak, a price increase of more than 3% was observed in the rents of residences in 75 big cities in the last year. In the research on the real estate market, the 3rd province with the highest increase in rental housing prices in the last year was İzmir with 78%.
Continuing to maintain its dynamism in the rental housing market this year as well, Konak ranked first among the districts with an increase of 81%; Karabağlar ranks second with 73%, Balçova ranks third with 71%, and ranks fourth with 60%. Karşıyaka and Bornova took the fifth place with 31%.
Pointing out the decrease in housing production due to high input costs, the representatives of the real estate sector emphasized that this increase in rents will continue.
General Manager Bora Arslan, Founder of 444 Real Estate Investment Consultancy
RENTS WILL RISE 40 PERCENT
Although there is no new supply in the housing sector, increasing demand also increases prices. On the other hand, due to the earthquake, people started to prefer newer houses. Due to the increase in housing costs in the construction sector, the purchasing power of the consumer has also decreased. There is a trend towards rental housing rather than purchasing. This situation has caused the rents of both residential and commercial areas to rise. By the end of 2022, I think there will be at least an additional 40% increase in rent.
Masse Real Estate Office Broker Seyhun Acar
HOUSING PRODUCTION DECREASED; RENTS INCREASED
The rise in inflation led to an increase in the prices of construction materials and land. Therefore, contractors are also hesitant about producing new projects. Due to the decrease in the purchasing power of the citizens, there is a decrease in the sales of the houses. It's a supply and demand issue. If more houses are built, rent rates will decrease in parallel. 2 thousand 800 TL last year. The houses in the band are rented for 5 thousand liras this year. Citizens inevitably have to pay these money. The earthquake factor in İzmir also causes people to prefer new buildings. Price increases will continue to increase due to the decrease in stocks.
Coldwell Banker Life Broker Uğur Sezginer
WE CAN'T MATCH THE DEMAND FOR HOUSING FOR RENT
Currently, there is a huge increase in both sale and rental properties. İzmir continues to attract attention due to its living conditions, climate and proximity to holiday centers. Migration from big cities such as Istanbul and Ankara to Izmir also triggers this increase. On the other hand, people's earnings did not increase at the same rate. In the past, the consumer, who could work as husband and wife and buy a house by taking a loan, had to turn to renting. It's almost as if we can't keep up with the demand for rental housing. Increasing demand also raises prices. Rents are determined according to CPI. This ratio has also increased due to rising inflation.
Gülçin Okay, Chairman of the FCTU Board of Directors:
PRICE CONTINUES TO RISE
Real estate values in houses have increased. Based on this, rental prices have also increased. Investors also have to increase the rent according to the housing price. All together, we see a 78% price increase compared to last year. The demand for rental housing has also increased the prices. The construction sector has not been able to manufacture for 2-3 years. Constructions under construction will only be completed next year. Rental housing is provided somehow; but prices have risen. As the dollar and inflation continue to rise, both house prices and rental prices will continue to rise.
Be the first to comment