Expert: Turkish authorities should ban renting accommodation to foreign tourists because of rising prices
The Turkish government should ban renting accommodation to tourists in order to regulate the growth of prices in the market, the analyst and head of the Economics Department of the newspaper Aydınlık Recep Erçın told RIA Novosti.
“Housing rents in Turkey are skyrocketing despite the 25 percent cap imposed last July,” he said. The reason is the willingness of foreigners to pay high prices and inflation, which is turning real estate into an investment vehicle. The cost of houses and apartments is rising, and so is the cost of renting.
According to BETAM and Sahibindex Rental Housing Market Outlook: February 2023, the price increase in Turkey’s rental listings in January was 173.5 percent. This is well above the official inflation rate, the economist stressed.
The expert drew attention to the lack of affordable rental housing in Istanbul, which is also a factor that raises prices. “In Antalya, Russian citizens have disrupted the market. The government must take a decision and ban foreign tourists from renting,” believes Recep Ercin.
A number of experts and media in Turkey claim that the problem of rental prices is about to turn into a social crisis. In particular, the newspaper Dünya notes that “the astronomical increase in housing prices and rents put landlords and tenants face to face. The former are trying to evict their former tenants in order to rent the property at a higher cost. The latter are having trouble finding rental apartments that fit their budgets.