13 May 2014

REIDIN: Office prices increases by 6.16 percent in Istanbul

According to the REIDIN Office Rent Price Index results, office rent prices increased by 6.16 percent in upper price segment and increased by 6.47 in lower price segment in the first quarter of 2014.

Office leasing transactions continued to boom in the first quarter of 2014. Within the 19 office region, Esentepe remained being the area that has highest rental value with 43.38 Dollar/m2 in terms of upper price segment and 28.76 Dollar/m2 in terms of lower price segment. Kavacık has lowest price value with 15.14 Dollar/m2 for upper price segment and 7.31 Dollar/m2 for lower price segment.

REIDIN Analyst: Areas that are close to the metro network create competition

Orhan Vatandaş, Senior Analyst of REIDIN, said that in the first quarter of 2014, mobility of market like in 2013 continued in general terms. He stated that leasing transactions were made in different scales and in different regions.

“When looked to Istanbul Rent Value Index of the first quarter of 2009, Istanbul-wide index value reached to 112.70 for upper price segment and 118.41 for lower price segment in last five years. Maslak is the region, where upper-price segment index value increased most. We see Kozyatağı as the region, where lower price segment increased most in last five years. Especially, newly built office areas, which are close to the metro networks, create competition. And, we can say that these areas will give acceleration to the index development dynamics, regionally.

Source: www.portturkey.com