The Provinces with the Highest Increase in House Rents in Turkey Announced

2021 was not a comforting year for the Turkish economy and therefore for the citizens. The dollar, which started 2021 at the level of 7.47 TL, broke a new record by exceeding 18 TL on 20 December. Due to the fact that Turkey’s foreign trade is mostly made in dollars and we depend on imported products and raw materials, all expenditure and consumption items in Turkey big hikes in just a few weeks and inflation increased.

One of these items was the houses where we met our shelter needs. The sudden increase in real estate prices brought with it increases in rents. The new research conducted by Bahçeşehir University Economic and Social Research Center (BETAM) with data from the owner is Annual rent increase rate in 2021 revealed.

Rents increased by 68.7% on average across Turkey, Antalya took the lead

According to the results shared by BETAM, the average rental housing announcement in Turkey square meter price is 26 TL rose. If the annual rent increase rate in rental prices 68.7% across Turkey was measured. The annual rate of increase in rents was as follows in the three major cities:

• Istanbul 84.6%
• Ankara 62.6%
• Izmir 56%

It has been announced that the average square meter prices of rental housing in Istanbul are 40 TL, 18 TL in Ankara and 26 TL in İzmir. It was also stated that inflation-adjusted rental prices increased both throughout the country and in three major cities. The ratio of the number of rented houses to the total number of rental advertisements is in December, decreased across the country compared to the previous month.

The provinces with the highest annual rent increases were as follows:

• Antalya – 84.8%
• Istanbul – 84.6%
• Mugla – 80%
• Mersin – 77.1%
• Tekirdag – 70%

The provinces with the lowest annual rent increases were as follows:

• Van – 30%
• Denizli – 25%
• Kahramanmaras – 24.7%
• Trabzon – 22.7%
• Mardin – 20%