Will real estate rents rise in Turkey?

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2024-03-07

Will real estate rents rise in Turkey? This is the question on the minds of many, whether you are a real estate investor or a renter looking for a home to rent and over recent years, Turkey has witnessed remarkable economic growth and development in the real estate market, and this raised questions about whether real estate rents will also increase.

In this blog, we will explore some of the possible factors and causes that may affect the rise in real estate rents in Turkey, we will discuss current trends in the real estate market, and take a look at the economic factors and legal legislation that play a role in determining prices, we will also shed light on the demand and supply in the rental market and how impact on pricing.

What are the factors affecting the rise in real estate rents in Turkey?

The geographical location of the property is one of the main factors in determining the rental value and properties in major urban areas are usually more expensive due to the high demand for them and the limited availability of real estate spaces.
When the available supply of real estate is less than the demand for it, this leads to an increase in rental prices, as for example, if there is a shortage of available apartments in a particular area with strong rental demand, the prices are likely to go up.
The availability of facilities and services surrounding the property, such as schools, hospitals, shops, and public transportation, may affect the rental value and areas with good facilities and various services may be more in demand, and therefore the rents will be higher
The size and layout of the property can affect the rent and larger, well-designed properties are often more expensive to rent.
The condition of the property and its available equipment, such as furniture, appliances, air conditioning and security services, can affect the rental value and modern and well-equipped properties are often more expensive.

Advantages when renting real estate in Turkey:

Turkey provides real estate with low rental prices compared to some other countries.
Turkey offers a wide variety of properties available for rent, from small apartments to luxury villas.
Turkey is strategically located between Europe and Asia, making it an ideal base for exploration and travel.
It has a rich and diverse cultural heritage, which means that you can enjoy festivals and cultural events.
Turkey has wonderful landscapes including charming beaches and picturesque mountains.
Turkey is famous for its delicious food and has a wide variety of restaurants and excellent Turkish cuisine.
It has a modern and developed infrastructure, including roads, public facilities, and hospitals.
Turkey offers a comfortable and convenient lifestyle, with many amenities, shops and restaurants within easy reach.
Turkey is a safe and stable country, providing a safe environment to live and enjoy.
It is witnessing growth in a remarkable economic development, which means opportunities for work and economic growth.
Turkey has easy and affordable leasing procedures, with transparent lease contracts and clear information about conditions and requirements.
Turkey provides many necessary services such as schools, hospitals, commercial and entertainment centers.
You can immerse yourself in the social and cultural life of Turkey, meet new people and make friends.
Renting allows you the flexibility to move around and change location easily without long term commitments.
You can find many furnished properties in Turkey, providing you with comfort and savings on furniture costs.
Real estate in Turkey can be rented for the purpose of investment, which allows you to achieve a financial return by renting it to others.
The rental period can be negotiated based on your needs and personal circumstances.
Turkey is a door to explore many tourist attractions and beautiful cities within the country and in the neighboring regions.
Turkey has a diverse and friendly society, and one can communicate in English and get along easily with the locals.
Renting property in Turkey gives you the opportunity to enjoy a unique cultural experience, where you can interact with local traditions and customs and discover the country's cultural heritage.

Which is better to buy or rent real estate in Turkey?

If you intend to reside in Turkey for a long time or permanently, buying may be the best option, as you can benefit from real estate ownership and stability.
If the purpose of the property is to invest and achieve a financial return, then the purchase may be more feasible, as you can rent the property and earn a monthly income.
Rental properties provide more flexibility in case your needs or financial situation change in the future and if you are uncertain about your future residence or want to move easily between regions, renting may be the best option.
Consider the financial costs associated with the purchase such as property taxes, registration fees, and maintenance of the property and if you are unable to afford these costs or would prefer to avoid them, renting real estate could be the most appropriate option.

Common questions

Do you expect real estate rents to rise in Turkey in the future?

Real estate market movements and rising rents cannot be predicted with complete accuracy and depending on current economic conditions and market factors, there may be a potential for higher rents in some areas or time periods.

What are the factors that can affect the rise in real estate rents in Turkey?

Influencing factors include demand and supply for real estate, economic growth, demographic trends, government policies, development of regions and infrastructure, and changes in rental legislation.

Are there common expectations among experts about the rise in real estate rents in Turkey?

There is analysis and forecasts by real estate market experts, financial institutions and consulting offices, but these expectations can vary based on different conditions and factors.

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