Rise in rental rates for office and industrial space in Turkey

A noticeable rise in rental rates for office and industrial premises in Turkey is sweeping Turkey. Market participants paid attention to the significant growth of rental rates in key cities of the country. One of the brightest examples was Istanbul, where prices rose up to $7 per 1 square meter of space. 

Experts explain this by the fact that after the beginning of the military conflict between Russia and Ukraine, Russian businessmen began to pay attention to goods produced in Turkey. This became a kind of impetus for the change of trade preferences and redistribution of trade flows, causing a jump in rental prices.

It should be noted that the 25% cap on maximum annual rent increases does not apply to commercial real estate. This means that the commercial rental market remains virtually unlimited in its ability to respond to changing supply and demand factors.