Office Rents in Istanbul Decreased by 10 Percent

According to data issued in April 2017, office rents in Istanbul have decreased by 10.3 percent compared to April 2016.

It is seen that about one-third of the total leasable area (32.3 percent) in the class A office market in Istanbul is vacant.

istanbul office buildings

Low demand and slowdown in the office market in Istanbul continues

Most of the companies that moved in the first quarter of 2017 passed to smaller offices compared to their previous ones.

The average rental price in Istanbul was 21.4 dollars in the first quarter. The highest average rent was 34.3 dollars in the Levent region (class A office market).

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