RENT PRICES HAVE INCREASED 3-4 TIMES IN ANTALYA AFTER THE WAR

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Revised November, 2022 – Resource, Turkey iResidence
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THE RENT OF 3 THOUSAND TL BECAME 12 THOUSAND TL

Turkey iResidence, “It was 1 month behind in the war that Russia started against Ukraine. While the effects of the war were deeply felt all over the world, the fact that some Russian and Ukrainian citizens left their countries and came to Antalya also made the real estate market fluctuate. Especially in Antalya, rental prices have increased by 3-4 times. apartments worth 3 thousand TL began to be rented for 12 thousand TL.”

The war between Russia and Ukraine has decimated the sale and rental of housing in Antalya. Especially in the central districts of Muratpaşa and Konyaalti, the mobility of the real estate sector has increased noticeably, while apartments rented for rent, especially near the city center and furnished, have fallen on the black market. By popular demand, an apartment in a building that does not even have an elevator rented for between 2,500-3,000 TL began to be rented to Russian and Ukrainian citizens at a cost of 10-12 thousand TL. Moreover, the contracts of these holiday apartments are arranged with an advance rental fee of 6-12 months and a closing condition of 20-25 thousand TL.

Turkish homeowner, who rented a 3 + 1 apartment in the Muratpaşa Bahçelievler Neighborhood for a Ukrainian citizen couple with 1-year down payment, a 10 thousand TL monthly rent, and 20 thousand TL deposit., “We rented our apartment in a 5-storey elevator-free building a zero apartment on the site in an area in the center. We were renting for 6 thousand TL this apartment,” he said.

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SAFETY CONCERNS

Noting that the interest of foreigners towards Antalya is not new, iResidence, gave the following information: “There has already been a rapid increase since 2021. However, with the war, it is also possible to create migration and capital outflow from Russia and Ukraine for security purposes. About 30 thousand citizens of the Russian Federation and about 8 thousand citizens of Ukraine live in Antalya. In February 2022, compared to last year, the sale of housing to Russians increased by 96 percent, and the sale to Ukrainians increased by 85 percent. While 4 percent of the sales in Turkey are foreign sales, this figure is 23 percent in Antalya.“ Noting that the entire balance in the real estate sector was disrupted by the Russia-Ukraine war, iResidence, said: “Landlords are asking for a rent of 10 thousand TL for an apartment that can be rented for 2-3 thousand TL. It is necessary that the institutions initiate an audit on this issue,” was said.

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THE DOMESTIC TENANT IS PUZZLED

“The rent increases in our neighborhood have surprised us all. Seeing the high rental price, my house wants an even higher rental price with better logic. This situation is hitting domestic tenants. Maybe the foreigner has the strength to pay this rent, but what will the Turkish citizen do?” said. Turkey iResidence, “It is debated whether these rents will be continuous. Because the prices in the contracts are astronomical. The whole balance in Antalya has been broken,” was said.

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THE WEEKLY RENT IN THE VILLA HAS INCREASED TO 500 EUROS

Turkey iResidence, immigration and real estate operator, explained the commission system that causes exorbitant rents in tourism regions as follows: “Rental prices in Kas and Kalkan, which stands out with villa tourism, have been at the levels of 8-10 thousand TL so far. However, with the arrival of a large number of Russians and Ukrainians in the region, rental prices that were hard to believe were pronounced at once. The owners of the property began to demand a weekly rent of 500 euros. In addition, commission groups were usually formed from Russian and Ukrainian residents. They share their own language on social media and write, ’Don’t trust the Turks, we will find you a home’. They deal with realtors for commissions. They are trying to get money from the citizens of their own countries who have fled the war zones with their last savings. The installed systems pay money to 3-4 brokers who intervene until Russian or Ukrainian keeps the house at the realtor. Astronomical Turkish home rents such as 1500 – 2000 euros appear even in small studio apartments.”

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