Residential rents in Izmir increased by 154% in last year and 269% in last two years

Housing rents in Izmir have increased by 154% in the last year and 269% in the last two years, while the average rent per square meter was 63 TL and the average rent was 6 thousand 932 TL. According to the data of Indeksa.com, rent value increase in Izmir was most experienced in Çeşme, Güzelbahçe, Karşıyaka, Narlıdere and Urla.

Average rental values in Izmir districts

Assessing the data, Indeksa.com Co-Founder and General Manager Görkem Ögüt said, “Rental prices have increased by 155% across Turkey in the last year as a result of the exchange rate movements and inflation, starting with the pandemic and increasing inflation. In Turkey, the average rent per square meter was 55 TL, the average rent was 6 thousand 520 TL, while the two-year value increase was 258%. When we look at the Endeksa data, we see that the increase in rents continues with a cut. Especially in April and May of this year, we have seen increases in rents at 15-17% per month, while at the point we come in, we see an increase of 4-5% per month. Therefore, we do not expect rents to fall in the coming period, but there will be no higher increases as in the past period.”