Istanbul Rent Hits 40,000 TL as Housing Costs Surge Across Turkey
Average monthly rent for an apartment in Istanbul has reached 40,000 Turkish Lira (TL), as housing costs continue to surge across Turkey, posing a significant economic burden for residents in the country’s largest city.
Nationally, the average monthly rent for a 100-square-metre apartment stands at 24,179 TL, indicating that high rents are a broad economic issue affecting households nationwide. Within Istanbul, the districts of Beşiktaş and Kadıköy are key contributors to the city’s rising average due to high demand and elevated costs.
The persistent increase in rents directly impacts Turkish households’ purchasing power and financial stability, with housing expenses consuming a growing share of income. This trend also hinders labour market mobility and presents challenges for businesses in attracting and retaining employees, especially in high-cost cities like Istanbul. The development underscores the urgent need for policy measures to address the housing crisis and stabilise the market.
Source: Haberglobal
