9 February 2018

REIDIN Office Report 2017 4th Quarter Results

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REIDIN Office Rent Index 2017 fourth quarter results announced.

According to REIDIN Office Rental Index 2017 Q4 results, rental values decreased by 0.43% for upper price office segment and by 0.52% for lower price office segment in all Istanbul compared to the previous quarter.

REIDIN Office Rental Index  in 2017, rental values increased by 0.08% for upper price office segment and decreased by 0.35% for lower price office segment.Based on the square meter rental values calculated for the 14 office areas where the office buildings are concentrated;

On the Asian Side, the highest value observed in Ataşehir Office District was 28.12 USD per sqm per month in the upper price segment and 18.65 USD per sqm per 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 per month in the upper price segment and 4.27 USD in the lower price segment.

In the Istanbul Central Business District (CBD), the upper price segment was measured at 34.47 USD per sqm per month while the lower price segment observed was 19.01 USD per sqm.

Among the office areas excluding the Istanbul Central Business District (CBD), the highest value observed for the European Side was in Maslak Office District with the value of 30.01 USD per sqm per month in the upper price segment and 20.41 dollars in the lower price segment while the lowest rental values were measured in Beylikdüzü – Esenyurt Office District with 7.28 USD per sqm per month in the upper price segment and 5.81 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 Istanbul office districts are shown in the graph below.

For the European Side, the highest GLA has been observed for the Istanbul CBD with 88.76% occupancy rate while for the Asian Side the highest GLA observed in Ümraniye with 89.20% occupancy rate.

According to REIDIN, Office Rental Values for Ankara decreased by 0.20% for the upper price segment and increased  by 0.54% 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 87.62% and increased by 3.57 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, Office Rental Values for Izmir Central Business District (CBD) decreased by 0.74% for the upper price segment and by 0.10% for the lower price segment compared to the previous quarter. Occupancy Rate of the office buildings in Izmir CBD were observed at 88.41% and decreased by 5.2 percent compared to the previous quarter.

In the Konak Office District, which is Izmir’s secondary office district, office rental values decreased by 4.49% for the upper price segment and by 2.38 % for the lower price segment compared to the previous quarter. The occupancy rate of office buildings in Konak Office District was observed at 92.50 % and decreased by 3.93 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.Please fill in the form below to reach the report.

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