The surge in rental prices 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 listings on the internet, rental prices for houses in Istanbul have increased by 45% compared to last year. Based on records held by a real estate listing platform for 100 square meter homes, the highest rental prices are in Beşiktaş… Bebek tops the list. The average rent for a 100 square meter apartment in Bebek has risen to 75,500 Turkish Liras. WHAT IS THE AVERAGE RENT IN ISTANBUL? The average price for 100 square meter apartments in Istanbul has reached 26,500 Turkish Liras. Nizameddin Aşa, President of the Istanbul Realtors Association, stated, “The minimum wage is 20,000 liras. The average rent is 26,500 liras. It’s contrary to reason, contrary to making ends meet. Very high, looking at pension payments, looking at the minimum wage, it corresponds to one and a half times or so. A two-bedroom apartment in Mecidiyeköy currently costs around 30,000 liras. Because there is not enough construction, there is high demand but no supply.” Istanbul’s most expensive districts are followed by Çekmeköy and Sarıyer after Beşiktaş. Rental prices in these districts are nearing 68,000 liras. REALTORS’ REACTION: PRICES EXAGGERATED Realtors state that prices on the internet are exaggerated and that individuals looking for a home must conduct comprehensive research. Aşa mentioned, “This is not the real market, in reality, the price listed in advertisements is significantly below, there are serious negotiations and discounts both in sales and rentals. They should not jump in blindly without thoroughly studying the market.” Property experts indicate that rental prices might rise again towards the summer.