Surge in Rental Prices in Istanbul Ahead of School Holidays

With the summer break for schools fast approaching, Istanbul's rental housing market is experiencing notable activity. Real estate experts indicate that rental prices have surged by approximately 15% in recent weeks. This increase is especially evident in central neighborhoods and regions where urban transformation projects are prevalent, making it increasingly difficult to find available rental apartments. Industry analysts suggest that the market may stabilize during July and August, potentially leading to a decrease in rental prices as urban development projects are completed. As demand outstrips supply in popular districts, the upward pressure on prices is expected to continue until the completion of these initiatives. CNN Türk reporter Yağmur Yılman recently discussed these developments with real estate specialist Şenay Araç, who offered insights into the current trends in the rental market. Araç emphasized that while the current situation may seem challenging for renters, there is a glimmer of hope for lower prices in the near future as new projects come online, reshaping the housing landscape in Istanbul.