How will the return of Syrians affect rental prices? Will rents fall?

The return of Syrians to their country following the end of the 61-year Ba'ath regime has sparked curiosity about what kind of impact it will have on the housing market in Turkey.

It is estimated that approximately 3 million Syrian migrants live in Turkey and that these migrants have settled in a total of 600,000 housing units. It is noted that half of these residences are located in Istanbul.

Experts state that the return of Syrians could have a positive impact, particularly on rental prices.

Industry representatives point out that the supply-demand imbalance in the rental housing market has driven prices up. With the housing units that will be vacated by Syrians, an increase in the supply of rental homes is expected to balance prices.

It is stated that the process of stabilizing rental prices will accelerate as more housing units become available.

Furthermore, it is noted that landlords, who have been in a strong position due to high demand, may abandon the strict conditions they have been imposing on rental terms.

Officials state that rental prices could normalize, or even show a partial decline, in regions where Syrian migrants are heavily concentrated.

It is also pointed out that it may take time for these returns to be reflected in rental prices.

News Source: 12punto