Istanbul Office Rents Continue to Fall

The fall in office rents in Istanbul continued in the fourth quarter of 2015, according to the REIDIN Office Rents Index. The fall continues according to the Office Rents Index results for the fourth quarter of 2015, which has been announced by REIDIN.

reidin logoAccording to the REIDIN Office Rents Index results for the fourth quarter of 2015, while office rents continued to fall when compared with the previous quarterly period, the pace of the fall was in rental values was actually seen to increase. Esentepe was once again the region with the highest rental values from among within 21 office regions throughout Istanbul. Pendik, Kartal and Kavacık, on the other hand, were again among the regions at the bottom of the list.

The 2015 fourth quarter results of the REIDIN Office Rents Index have been announced. According to the index, which comprises 21 office regions in total, there was a 0.94 percent decrease in rental values in the top segment in Istanbul, and a 0.89 percent decrease in the bottom segment, when compared to the previous quarterly period.

When the square meter rental values, which are calculated using the official boundaries of the districts and neighborhoods, is taken as the basis, Esentepe was once again the region with the highest rental income. According to the square meter values Esentepe is 42.08 dollars in the Top Price Segment and continued to be the region with the highest rental value in the Bottom Price Segment too, with 26.77 dollars. On the other hand, Kavacık stood out among the regions with the lowest rental values in the Top Price Segment, with 14.45 dollars, while Pendik came to the fore in the Bottom Price Segment, with 6.82 dollars.

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