Istanbul’s rental prices hit record highs: Which areas are most expensive?

In Istanbul, rental prices have reached unprecedented levels, with 100-square-metre apartments in upscale districts exceeding $1,700 per month. In some areas, rents have even surpassed the minimum salary for doctors, set at $2,000.

Significant year-on-year increase

As of 2025, the average rent for a 100-square-metre apartment in Istanbul has risen to $735, marking a 45% increase from the previous year. This surge has made it increasingly challenging for residents to afford housing, especially in the city's most sought-after neighborhoods.

Top 15 most expensive neighbourhoods

Based on data from Endeksa, here are the 15 most expensive neighborhoods in Istanbul for 100-square-metre apartments:

1. Bebek (Besiktas) – $2,000
2. Nisbetiye (Besiktas) – $1,900
3. Omerli (Cekmekoy) – $1,800
4. Sirapinar (Cekmekoy) – $1,800
5. Caddebostan (Kadikoy) – $1,800
6. Uskumrukoy (Sariyer) – $1,800
7. Sahkulu (Beyoglu) – $1,800
8. Kurucesme (Besiktas) – $1,780
9. Etiler (Besiktas) – $1,780
10. Ayazaga (Sariyer) – $1,750
11. Fenerbahce (Kadikoy) – $1,730
12. Levent (Besiktas) – $1,700
13. Arnavutkoy (Besiktas) – $1,700
14. Suadiye (Kadikoy) – $1,700
15. Visnezade (Besiktas) – $1,680

A general view from Istanbul while the fog covers the sky on a fall morning in Beykoz, Cekmekoy, Sancaktepe, Sultanbeyli, Kagithane, Uskudar, Umraniye, Besiktas and Sariyer districts of Istanbul, Türkiye, Oct. 16, 2024. (AA Photo)

Property sales reflect similar trends

The surge in rental prices is mirrored in the property sales market. The following districts have recorded the highest average property prices:

1. Beykoz – $519.6
2. Sariyer – $518.6
3. Kadikoy – $410
4. Bakirkoy – $354
5. Sile – $336.3
6. Adalar – $297.9
7. Uskudar – $231
8. Atasehir – $177

Market dynamics and future outlook

The significant rise in both rental and property prices is attributed to a combination of high demand, limited housing supply, and increasing construction costs.

Experts warn that if these trends continue, Istanbul's housing market may become increasingly inaccessible for many residents, potentially leading to broader economic and social challenges.

February 10, 2025 10:16 AM GMT+03:00