Rental home prices increased 101 percent in May

Bahçeşehir University Economic and Social Research Center (BETAM) has released the research for Rental Housing Market Outlook for May 2023.

Consequently, the annual rate of increase in the average price per square meter of rental housing across the country was 101 percent in May. Thus, the annual rate of increase in annual rental prices, which was 117 percent in April, dropped to 101 percent in May.

In May, the average price per square meter of rental housing in the country rose to 113.2 TL.

The annual rate of income increase stood out at 109.4 percent in Istanbul, 192.2 percent in Ankara and 150 percent in Izmir.

The average prices per square meter of rental housing increased to TL 140.2 in Istanbul, TL 93.7 in Ankara and TL 112.5 in Izmir.

Source: BETAM

HIGHEST INCREASE IN TRABZON

The provinces with the highest price increase were Trabzon with 288 percent, Malatya with 261.4 percent, Ordu with 213.2 percent, Mardin with 192.7 percent and Ankara with 192.2 percent.

The provinces with the lowest increase in income were the following:

Gaziantep 117.3 percent, Istanbul 109.4 percent, Adana 98 percent, Antalya 57.6 percent, and Muğla 23.5 percent.

SUPPLY INCREASED BY 9 PERCENT, DEMAND INCREASED BY 14.6 PERCENT

According to studies. Compared to last month, the number of rental housing ads was 9 percent in the country (from 195,482 to 213,020), 5.2 percent in Istanbul (from 74,204 to 78,037 ), 24 percent in Ankara, 9 (from 9,197 to 11,483) and 10.5 percent in Izmir (from 17,921 to 19,799).

The rental housing demand index rose 14.6 percent from April to May (from 184.7 to 211.7).

On the other hand, it was reported that the demand for rental housing was 3.8 percent higher than in May last year.