Rent in Turkey has risen eightfold in four years. How much is that in lira and dollars?
In Turkey, there has been not only a record in home prices but also in rents—over the past four years, they rose eightfold. Experts say that the housing crisis is much more serious than expected.
İBB Deputy Secretary General Buğra Gökce that the average rent increase in major cities between April 2019 and 2023 was 697%. In some regions, the rent increases during this period are as follows: in Antalya—1109%; in Mersin—963%, in Mugla—935%, in Ankara—833%; and in Istanbul—713%.
While in April 2019, the average rental price in 81 cities was 728 Turkish Liras ($36) per month, today the figure has risen to 5058 Turkish Liras ($250).
Again, these are only official statistics. The Numbeo database, to which ordinary people add information, gives the following figures: one-bedroom apartment rents range from 6,000-8,400 liras ($280-417), three-bedrooms—9,800-14,300 liras ($490-700).
This, of course, affects the affordability of housing for the local population. According to official data, in the province of Mugla, rents are currently 187% of the average wage; in the province of Antalya, 120%; and in Istanbul, 117%. In this regard, the following trend is also indicative: now rooms and beds in Turkey are often rented not only by students, but also by office workers.
How this situation affects foreigners can be seen by the recently introduced law on the closure of popular Turkish regions for foreigners. That is, a foreigner cannot get a primary residence permit in closed areas by buying or renting real estate there.