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Istanbul’s most valuable districts & area rental statistics: Hurriyet Emlak

According to the data obtained from the index, the highest increase in the average square meter price in the residential for sale category in the last year was recorded in Beykoz with 117.41%.

Hurriyet Emlak announced the districts with the highest increase in the category of housing for sale in Istanbul in the last year.

According to the data obtained from the index, the highest increase in the average square meter price in the residential for sale category in the last year was recorded in Beykoz with 117.41%. Beykoz was followed by Sariyer with 112.85%, Avcilar with 99.56%, Basaksehir with 77.63%, and Uskudar with 75.50%.

According to Hurriyet Emlak January 2021 Index, when the rise in the last month in houses for sale is evaluated, Beykoz took the first place with 11.59%. While the average square meter price of houses for sale in Beykoz last month was ₺11 thousand 29, the said figure increased to ₺12 thousand 308 in January.

Beykoz was followed by Beyoglu with 11.40%. The average square meter price in Beyoglu, which was ₺6 thousand 805 last month, increased to ₺7 thousand 580.

The change rate of Arnavutkoy, which ranked third, was 10.05%. The average square meter price of houses for sale, which was ₺3 thousand 348 last month, increased to ₺3 thousand 684.

Sile, which attracts attention with its rapid rise, has recorded an increase of 9.33% in the last month. Last month, the price of the houses for sale, whose average square meter price was ₺5 thousand, found buyers over ₺5 thousand 467 in January.

Big change in rental housing

According to the Hurriyet Emlak January 2021 Index, which also evaluates the course of rental housing in the districts of Istanbul, the biggest change in the last year took place in Bagcilar with 109%. In Bagcilar, the average square meter price was ₺13 last year, this figure increased to ₺28 within a year.

In Gaziosmanpasa, which ranked second, there was an increase of %67.36. The average square meter price, which was ₺12 last year, was recorded as ₺20 this year.

In Esenyurt, which ranked fourth with an increase of %62.37, the average square meter price rose from ₺13 last year to ₺21 this year.

Another district with a rapid rise was Atasehir with 56.78%. Last year, the average square meter prices in Atasehir were ₺18, while residences found tenants over ₺29 in the same period of this year.

In Basaksehir, which has attracted attention with its rapid rise recently, there was a change of 42.71%. In the district, the average square meter prices in rental residences increased from ₺16 to ₺23 in the last year.

Districts with more than 10% increase in price in a month in rental housing

According to the Hurriyet Emlak January 2021 Index, where the last month’s change is also evaluated, Bagcilar ranked first in rental housing with a 12% increase. While the average square meter price of the rented houses in the district was ₺25 last month, this month it increased to ₺28.

Gaziosmanpasa took the second place with an increase of 11.11%. The average square meter prices, which were ₺18 last month, increased to ₺20 this month.

Another district in which rapid rise was observed was Eyupsultan with 10.65%. The average square meter price of rental residences, which was ₺29 last month in Eyupsultan, rose to ₺32 this month.

Districts with decreases

Hurriyet Emlak January 2021 Index also listed the districts with decreases in rental housing. According to index data, rental house prices in Sultanbeyli fell by 25%. Last month, the average price per square meter in rented houses was ₺13, while this month the figure has decreased to ₺10.

Another district with a decrease was Zeytinburnu with 9.54%. In Zeytinburnu, the figures decreased from ₺24 to ₺21 within a month.

Sariyer was recorded as another district with a decline. In the district, where there was an 8.75% decrease, the average square meter price was ₺54 last month, while this month the figure decreased to ₺49.

In Cekmekoy, where there was a decrease of 8.34%, the figure, which was ₺19 last month, has decreased to ₺17 this month.

In Kucukcekmece, another district that draws attention with its rapid decline, the average square meter price was ₺21 last month, but this month it was ₺19.

“Istanbul residents wanted to be closer to nature and the sea during the epidemic process”

Speaking in the statement, Hurriyet Emlak Co-General Manager Zeynep Tandogan stated that they observed that Beykoz and Sariyer, especially Beykoz and Sariyer, from the districts of Istanbul, were constantly valued last year, ‘The search for housing in these two districts saw the highest level of the last 5 years during the epidemic. These searches peaked in May and June. The high demand has also increased the prices in the region.”

Stating that Istanbul residents wanted to be closer to nature and the sea during the epidemic process in which they stayed in their homes, Tandogan noted that the districts that are within walking distance to the beach are particularly attractive.

Tandogan said that the sales figures of villas with gardens in Beykoz and Sariyer increased by more than 100% and that the recent earthquakes have also encouraged low-rise living.

Touching on the big change in rental housing prices, Tandogan said:

The demand for rental houses in Bagcilar, Gaziosmanpasa, Esenyurt, and Avcilar has increased enormously in the last year. The most important reason for this is urban transformation. Families whose homes are in urban transformation in these regions or nearby areas have increased the demand for rental houses. As the number of rental houses decreased, rents increased. Pandemic also has a high impact on this. So much so that, as the start of new construction was delayed due to the pandemic, it became difficult to find rental houses in these regions. Especially in Bagcilar, the rent increase for houses close to the metro and tram has increased the average considerably. When we look at Basaksehir, Bahcesehir side of this district is mostly white-collar. People who started working from home started to move to more comfortable homes and the market became active. Basaksehir Cam and Sakura City Hospital, the first stage of which was opened in Basaksehir on April 20, also caused an increase in house prices in the surrounding area.

When we look at Atasehir, which is the district with the highest price increase on the Anatolian Side, we again see the effect of pandemic and earthquake fear. The abundance of new buildings in Atasehir attracted families who were afraid of earthquakes and lived in old buildings on the Anatolian side to these areas. On the other hand, it has become an attractive region for those who want to spend a lot of time at home and move to more comfortable homes during the pandemic process.”

Source: AA / Translated by Irem Yildiz

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