It is getting harder to become a renter in gold landed Istanbul. While the prices in the central districts of the city are rising due to limited land supply and urban transformation, options for narrow and middle income are also available. Turkey Data Processing Center (TÜVİMER), which operates in Yıldız Technical University Technopark, has been searching for the cheapest 10 addresses to be hosted in Istanbul.
Research has shown that it was imaginable to be host in central locations of the city for even middle-income citizens. Beşiktaş stands out as the most expensive district in Istanbul. In Besiktas, the price of a square meter exceeds 18 thousands and it goes up to 8 times more of the cheapest city.
THE RENT STARTS FROM 800
The lower income group is obliged to become a tenant. When we look at rent prices, a similar picture emerges. Turkey Data Processing Center Strategy and Business Development Director Ömer Türkoğlu said, "The rent of 100 square meters in the districts preferred by low income citizens varies between 800 liras and 1250 liras. 8 liras for the average square meter rental price for Arnavutköy and Çatalca, 10 liras for Esenyurt and Sultangazi, 11 liras for Avcılar, Beylikdüzü, Çekmeköy, Esenler and Sultanbeyli and 12 liras for Başakşehir.
DEMAND FOR HOUSING CONTINUES
Demand for housing in both Istanbul and throughout the country is still alive, but it is difficult to find a viable option for citizen purchasing power. Narrow and middle-income citizens show great interest in affordable housing projects.