Turkish statistics reveal a decrease in rental prices for January

The Turkish real estate market is witnessing a noticeable decrease in rental prices at the beginning of 2025, by between 25% and 30% due to the accumulation of homes offered for rent.

 The Turkish Statistics Authority announced the decrease in the maximum legal limit for increasing monthly rents in Turkey for the month of January, where the percentage was determined at 58.51%, instead of the previous percentage of 60.45%.

This amendment came based on the consumer price index (TüFE), which reflects the monthly inflation rate.

The maximum legal limit has been reduced according to the consumer price index, which is the main indicator used to calculate legal rents.

Ghazi Chilic, head of the real estate agents room in Iski Shahir, said that the real estate market is witnessing a decrease in rental prices at the beginning of 2025, expecting an additional decrease of between 25% and 30% due to the accumulation of homes offered for rent and increased heating costs in the winter.

In press statements, Chilic revealed that this period is a good opportunity for real estate investment, especially with the effect of increasing the minimum wage on the market.

He explained that Eski Shahir witnessed slow performance in 2024, due to the preference of some European investors to their cities instead of Türkiye.

Chilic described the current recession in the real estate market as an ideal opportunity for investment, noting that the market has difficulty reaching cash liquidity and high interest rates.

He added, "The current recession is the ideal time to invest in real estate, as real estate has proven in the long run that it is a profitable investment."

He pointed out that the prices in new projects are increasing due to the increase in the prices of basic materials such as iron and cement, recommending that the current prices be used before they rise more.

Celic said that the large demand from students on university housing due to the costs of high rents led to their preference for university housing that provide reasonable prices and additional services. As a result, many apartments in the market have become empty.