It concerns millions of homeowners: The striking picture of rent increase! – Latest news

Milliyet.com.tr/ Real Estate Expert Mustafa Hakan Özelmacıklı evaluated the questions regarding the subject to milliyet.com.tr. Özelmacıklı used the following statements in his speech:

‘NOW IS THE BEST TIME TO RENTAL’

We can say that it is the best season in terms of rental right now. Even in Diyarbakır, rents of 80 TL have approached 100 TL per square meter. The best time to rent is now.

‘HOUSE PRICES DECREASED IN REAL TERMS’

When we look at the Central Bank’s housing price index, we see that housing prices in real terms are going backwards for the first time in Turkey. In Turkey, housing prices, which increased by 58 percent in nominal terms compared to the same month of the previous year, decreased by 5.1 percent in real terms. “So we can say that for the first time, housing prices have decreased in real terms.”

Making a statement on the subject, Emlakjet CEO Tolga İdikat used the following statements in his statement: “The rental housing market in Turkey followed a fluctuating course in the last 3 months. In January, increases in rental prices were observed in important cities such as Istanbul, Ankara and Tekirdağ. These increases are due to demand. While prices were relatively stable in Istanbul in February, the increases continued in cities such as Ankara, Aydın and Diyarbakır.

However, in March, prices were stagnant in Istanbul, Ankara, Bursa, Aydın, Konya, Mersin and Diyarbakır. On the other hand, there was a 6% decrease in rental prices in Gaziantep in March.

“DECLINES WERE OBSERVED IN SOME ANATOLIAN CITIES”

When we look at the last 3 months’ data, we can say that regional differences are evident in the rental housing market. While prices increased in metropolitan cities, decreases were seen in some Anatolian cities. This may be a result of regional economic conditions, changes in the supply-demand balance and seasonal effects.

As we entered 2024, a general increase in rental housing prices was observed. However, after January, this increase slowed down and in February-March, price increases stopped in many cities, and some cities even experienced decreases. Rental housing price changes in different cities varied greatly. While the price increase remained relatively limited in big cities such as Istanbul and Ankara, a decline in prices was observed in some cities such as Diyarbakır and Gaziantep.

However, the rental market remains on solid footing overall. Demand remains high and new housing is still in short supply. In the first 3 months of 2024, the rental housing market generally stabilized. Price growth slowed and prices declined in some cities. This may be a positive development for those looking for rental housing in the short term. “As Emlakjet, we will continue to closely follow how the rental market will be shaped in the coming months.”