3 August 2017

REIDIN Office Report 2017 2nd Quarter Results

REIDIN Office Rent Index 2017 second quarter results announced.

According to REIDIN Office Rental Index 2017 Q2 results, rental values increased by 0.22% for upper price office segment and decreased by 0.50% for lower price office segment all İstanbul compared to the previous quarter.

Based on the square meter rental values calculated for the 14 office area where the office buildings are concentrated;

On the Asian Side, the highest value observed in Ataşehir Office District was 28.22 USD per sqm month in the upper price segment and 18.86 USD per sqm month in the lower price segment while the lowest rental values have been observed in the Kurtköy Office District with 11.96 USD per sqm month in the upper price segment and 4.26 USD in the lower price segment.

In the İstanbul Central Business District (CBD), the upper price segment was measured at 34.37 USD per sqm monthwhile the lower price segment observed was 18.73 USD per sqm.

For the European Side, among the office areas excluding the İstanbul Central Business District (CBD), the highest value observed was in Maslak Office District with the value of 29.93 USD per sqm month in the upper price segment and 20.48 dollars in the lower price segment while the lowest rental values were measured in Beylikdüzü – Esenyurt Office District with 7.04 USD per sqm month in the upper price segment and 5.86 USD in the lower price segment.

On the density map of İstanbul Office Districts, the red areas show the highest office building are concentration, while the yellow – green areas show the secondary office districts and the developing office districts.

The Occupancy Rates and Gross Leasable Area (GLA) for the İstanbul office districts are shown in the graph below.

For the European Side, the highest GLA has been observed for the İstanbul CBD with 88.16% occupancy rate while for the Asian Side the highest GLA observed in Ümraniye with 96.35% occupancy rate.

According to REIDIN Ankara Office Rental Values, office rental values decreased by 1.10% for the upper price segment and increased by 0.19% for the lower price segment in Ankara Central Business District (CBD) compared to the previous quarter.

The occupancy rate of office buildings in Ankara CBD were observed at 89.21% and increased by 7.59 percent compared to the previous quarter.

On the density map of Ankara office districts, the red area show the Ankara CBD, while the yellow – green areas show the developing office districts.

According to REIDIN İzmir Office Rental Values, İzmir Central Business District (CBD) office rental values increased by 0.46% for the upper price segment and decreased by 0.58% for the lower price segment compared to the previous quarter. Occupancy Rate of the office buildings in İzmir CBD were observed at 80.84% and increased by 5.07 percent compared to the previous quarter.

In the Konak Office District, which is İzmir’s secondary office district, office rental values increased by 2.61% for the upper price segment and decreased by 2.45% for the lower price segment compared to the previous quarter. The occupancy rate of office buildings in Konak Office District was observed at 98.07% and decreased by 3.42 percent compared to the previous quarter.

Offices in İzmir are concentrated in two main area. The areas indicated in red on the density map, are the office areas of İzmir CBD and Konak where office building concentration are the highest. Yellow and green areas show the secondary office districts in İzmir.

To reach further data on office and other property market data visit REIDIN