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Istanbul rental house prices doubled

Nizamettin Aşa, Chairman of Istanbul Chamber of Real Estate Agents stated that after the results of the latest university student selection examination the istanbul rental house prices doubled in neighbourhoods where universities are located. Aşa showed the urban transformation projects that results in higher rental demand and the rise of house for sale prices as other primary factors in the rental home price increases.

Reporting that there were no demands or price rise in rentals since January, Aşa told until April – May the prices has been rised to 30-40% which is a %100 increase when compared to last years prices in the same period.

Pointing out that the central district of Beşiktaş alone is home to nine universities, Aşa said that %20 of rental homes in İstanbul are occupied by university students.

Aşa stated that students mostly would like to live in the areas that are close to the universities and social life. Thus the rents are getting high in popular neighbourhoods like Beşiktaş, Avcılar, Bahçelievler, Küçükçekmece, Levent and Nişantaşı.