Istanbul Becomes One of Europe's Most Expensive Cities for Rent

An important update: Istanbul has become one of the most expensive cities in Europe for renting property. According to a recent study conducted by European Union analysts, Türkiye's largest metropolis has taken the second spot on the list of "Europe's Most Expensive Cities for Rent." Munich holds the top position with an average rental rate of €1,770 per housing unit. In Geneva, rental costs reach up to 372 Swiss francs per square meter, while Paris, Luxembourg, and Copenhagen also feature high rental rates ranging from €1,000 to €3,000.

In Istanbul, where the highest number of renters in the country is concentrated, the average rental price is €650. However, in the city's prestigious districts, spacious apartments are much more expensive, with prices starting from €1,000 and above. Additionally, tenants pay monthly maintenance fees (aidat) ranging from 3,000 to 4,000 Turkish lira.

Over the past year, rental rates in Türkiye have increased by approximately 56%. The summer season further impacts the market, especially in coastal locations such as Bodrum, where rental prices are particularly high, especially for villas. Çeşme in the Izmir province also shows significant rental price levels.

Stay updated on our BARNES Türkiye website to keep informed about the latest news and changes in the rental market in Türkiye. We are always ready to provide you with current information and assist you in finding the perfect rental property in Istanbul and other cities across the country.