Monthly rent growth in June was 2.3%, however, according to experts, this increase is mainly due to the seasonal factor - the traditional revival of demand in the summer. Analysts call a more significant trend a steady slowdown in annual dynamics, which in recent years has demonstrated double-digit and even triple-digit values.
It should be recalled that the peak growth in rental rates occurred in 2022, when it exceeded 143%. The growth rate remained above 100% throughout 2023, and it was only in 2024 that it dropped to double digits. By the end of 2025, the annual increase was 35-40%, and in the first half of 2026 it dropped to 3035%, finally breaking through the 30% mark only in June.
Experts cite the completion of large-scale housing projects built after the earthquakes and the relocation of the population from temporary housing as the main reasons for the current slowdown. The market has also been affected by the delivery of social housing facilities, weakening solvent demand and declining interest in renting - many households prefer to buy their own apartments, as monthly mortgage payments become comparable to rental rates.
The average rental price of an apartment of 100 sq. m. The Turkish currency in the second quarter of 2026 reached 25,863 Turkish lira (about 1,543 US dollars at the current exchange rate), which is 35% higher than a year earlier. In Istanbul, similar housing is rented for an average of 44,332 liras, while in Ankara and Izmir this figure is 23,921 and 28,540 liras, respectively.
Thus, the rental market in Turkey is gradually returning to a more balanced performance after several years of crisis growth.
Source: Hurriyet Daily News
