09.12.2024 15:20
Experts predict that the return of Syrians in Turkey will have a positive impact on rental prices, particularly. It is stated that with the increase in the supply of rental housing, prices will remain stable.
It is expected that the return of Syrians who sought refuge in Turkey during the civil war in their country will have a positive impact on rental prices in Turkey following the overthrow of the 61-year Baath regime.
Experts evaluated the impact of the return of approximately 3 million Syrians, who are under temporary protection in Turkey, on rental and sale prices in an interview with AA correspondent.
Hakan Akdoğan, Chairman of the Real Estate Services Professional Committee of the Istanbul Chamber of Commerce (İTO), stated that the return of Syrians will positively contribute to rental prices in particular.
THE BALANCE HAS BEEN DISTURBED, PRICES HAVE INCREASED
Akdoğan said, "Especially on the rental housing side, the imbalance between supply and demand was driving prices up. The high demand had a serious negative impact on prices and increased rents. Our rental supply is low, but demand is very lively and continuously increasing. This also raises prices and strengthens the hands of landlords, making conditions more difficult for tenants."
Stating that the rental housing supply will increase thanks to the houses that Syrians will vacate, Akdoğan expressed the following: "I think property owners will not be able to impose heavy conditions for the quick rental of vacant houses. Syrian migrants were concentrated in certain areas. We believe that rental prices will normalize in those areas and remain stable for a while. However, this situation will not be valid everywhere. It will particularly be in areas where Syrians live densely. Serious options and alternatives will emerge for our own citizens. Accessing and renting a house will become a bit easier."
"IT MAY PARTIALLY REDUCE RENTAL PRICES"
Nizameddin Aşa, President of the Istanbul Realtors Association, also noted that there is a significant number of Syrians in Istanbul, stating, "One of the main reasons for the increase in housing rents was migrants and refugees. Especially when several families came together, they could afford high rents. Therefore, rents in the region were rising. Now, it is stated that there will be a significant return to Syria. If this happens, it may partially reduce rental prices and prevent them from increasing for a while." However, Aşa pointed out that any potential decrease in rents or increase in rental housing supply will take time, saying, "I do not expect it to happen in the short term. It will have a serious positive effect on the real estate market, but it will happen after a certain period."
"RENTAL PRICES WILL STAY STABLE FOR A WHILE, WILL NOT INCREASE"
İsmail Özcan, President of the Association of Real Estate Marketing and Sales Professionals (GAPAS), stated that it is still too early to discuss whether rents will decrease, and made the following evaluations: "It is stated that there are about 3 million Syrians in Turkey. We do not know what kind of order will be established there, whether Syrians will return, and how many will return. If we consider that approximately 600,000 of the 3 million Syrians in Turkey live in housing, and if we assume that half or nearly half of them are in Istanbul, we can say that 300,000 Syrians are staying in the megacity. If all Syrians return, a significant number of vacant apartments will emerge, eliminating the supply shortage for a while. Especially places like Gaziantep, where Syrians live densely, will breathe. However, it is stated that 1.5-2 million will return. This will positively reflect on rental housing. Since there is a supply shortage, rents will not immediately decrease, but they will remain stable for a while and will not increase.