Warning for university students: High rents and urban transformation risks in Istanbul

With the start of the university enrollment period, the search for housing among students in Istanbul has accelerated. However, both price increases and risks related to buildings in the process of urban transformation are coming to the fore in the rental housing market.

As finding rental apartments in central districts such as Kadıköy, Beşiktaş, and Şişli—where student interest is high—becomes increasingly difficult, the rise in rental costs is straining budgets. It is noted that in some areas of Istanbul, rent increases have reached up to 80 percent.

It is stated that an older 2+1 apartment in Beşiktaş that could be rented for approximately 25 thousand liras last year has risen to 45 thousand liras this year. Depending on factors such as central location, the condition of the apartment, and whether it is furnished, rents in some older buildings are reported to reach as high as 80 thousand liras.

Alongside high rents, it is emphasized that another risk for students is buildings currently in the urban transformation process. It is noted that some landlords are attempting to rent out buildings that are risky or expected to enter the demolition process to students who are unaware of the situation.

Real estate agents state that students should investigate whether a building is in the process of urban transformation or is considered a risky structure before signing a lease. Experts recommend obtaining information through the land registry, the municipality, and building management to avoid grievances caused by apartments that may pose a risk of eviction in the near future.

News Source: 12punto