The increase in rents continues in Istanbul. The average rent for 100 square meter apartments in the city has reached 26,500 Turkish liras. The most expensive district is Bebek.

According to online listings, rental prices for houses in Istanbul have increased by 45% compared to last year. According to records kept by a real estate listing platform for 100 square meter homes, the highest rental prices are in Beşiktaş… Bebek ranks at the top of the list. The average rent for a 100 square meter apartment in Bebek has now reached 75,500 Turkish liras. WHAT IS THE AVERAGE RENT IN ISTANBUL? The average price for 100 square meter apartments across Istanbul is now 26,500 Turkish liras. Nizameddin Aşa, the President of the Istanbul Real Estate Agents Association, stated, “The minimum wage is 20,000 liras, the average rent is 26,500 liras. It is illogical, it is unreasonable for people to make a living. It is way too high, looking at pension payments, looking at the minimum wage, it equals one and a half times or so. A two-bedroom apartment in Mecidiyeköy is currently around 30,000 liras. Due to insufficient construction, there is high demand but few houses.” Beşiktaş is followed by Çekmeköy and Sarıyer as the most expensive districts in Istanbul. Rents in these districts are close to 68,000 liras. REACTION FROM REAL ESTATE AGENTS: PRICES ARE EXAGGERATED Real estate agents claim that the prices online are exaggerated, and those looking for a house should conduct thorough research. Aşa mentioned, “This is not the real market, there are significant negotiations and discounts below the advertised price, both for sale and for rent. People should not blindly jump into the market without thoroughly studying it.” Real estate experts suggest that rent prices may rise again towards summer.

HERE ARE ISTANBUL’S MOST EXPENSIVE DISTRICTS

Bebek (Beşiktaş): 75,500 TL Nisbetiye (Beşiktaş): 69,000 TL Ömerli (Çekmeköy): 67,900 TL Sırapınar (Çekmeköy): 67,600 TL Caddebostan (Kadıköy): 67,000 TL Uskumruköy (Sarıyer): 64,900 TL Şahkulu (Beyoğlu): 64,500 TL Kuruçeşme (Beşiktaş): 64,300 TL Ayazağa (Sarıyer): 63,200 TL Levent (Beşiktaş): 62,000 TL Arnavutköy (Beşiktaş): 62,000 TL Suadiye (Kadıköy): 61,200 TL Vişnezade (Beşiktaş): 60,500 TL