13 September 2012

To Rent an Office or to Invest in Istanbul?

Which neighbourhood is the rising star among Istanbul’s office districts? What are the latest trends in the Istanbul office market? Here are the recent numbers by REIDIN Office Rental Index…

REIDIN.com, the leading global real estate information company has been calculating the REIDIN Office Rental Index of Istanbul since 2009 and will continue to announce the numbers quarterly.  

REIDIN Office Rental Index studies office values in two categories: The Upper Price Segment and Lower Price Segment.

The Upper Price Segment contains offices which are located well, take place in modern and top-quality buildings, offer private parking space and professional building management – thus are pricier compared to its surroundings; whereas the Lower Price Segment contains offices that are located in buildings of lesser quality, that do not offer privateparking spaces and thus are more affordable.

Here are the latest numbers regarding Istanbul’s offices, provided by REIDIN.com:  

Where are the most valuable offices of Istanbul located?

The priciest top 3 office-districts of Istanbul are the same in both categories – both Upper and Lower Price Segments display Esentepe as the most valuable office district, followed closely by  Levent and Beşiktaş. The rest, however, differ due to their categories.   

Upper Price Segment – the most expensive offices:

Lower Price Segment – the most expensive offices:

Which office districts have gained or lost value?

Since the first qurater of 2009, office rents of  the Upper Price Segment in İstanbul have slightly lost value (1%) whereas rents in the Lower Price Segment showed a considerable rise (10%). But which neighbourhoods have gained or lost value individually?

Within the Upper Price Segment, offices have either gained or lost value at about the same ratio (10%). However in the Lower Price Segment, value gain is at high rates (Beşiktaş at 35%, for e.g.) and loss is at minimum (both in number of neighbourhoods and ratio).

Below you can see the value gain and loss of Istanbul in general in both categories:

Top 5 of value gaining office districts of Istanbul since 2009 are as following:

Top 5 office districts in the Upper Price Segment:

Top 5 office districts in the Lower Price Segment:

To learn more about the REIDIN Office Rental Indices, its methodology and unit-level building and projects data, visit REIDIN.com.

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