content tagged with rent

While the Turkish Statistical Institute (TurkStat) has announced the rent increase rate as 19.60 percent, house owners do not recognize this rate as rents have seen a 200-percent increase in some neighborhoods, causing fears for a housing crisis in cities.

According to a study carried out by a research center affiliated with Bahçeşehir University, the annual increase in rent is 78.8 percent in İstanbul, 62 percent in the capital city of Ankara and 50 percent in İzmir.