Rising housing supply, remigration to quake zone cool rents in Türkiye
12 Articles
12 Articles
An analysis published on the Central Bank's (TCMB) blog, "The Central Bank's Diary," states that one of the items exhibiting the most rigidity in the disinflation process is rent, and that the loss of housing stock following the February 6, 2023 earthquakes and migration from the region to other provinces played a significant role in this situation.
According to an analysis published on the Central Bank's Diary blog, where Central Bank (TCMB) employees share their views, the improvement in housing supply will be one of the factors supporting a slowdown in rental inflation in the coming period.
According to an analysis by the Central Bank of the Republic of Turkey, while the loss of housing stock and migration movements following the February 6, 2023 earthquakes increased rent inflation, the rapid increase in housing supply through public-led reconstruction efforts began to slow down rent increases.
The Central Bank has released a remarkable analysis of rental prices. Due to the February 6 earthquakes, the report stated that rent prices increased both in the disaster zone and in cities receiving emigration due to the earthquake, while rent increases slowed with the delivery of earthquake housing.
The Central Bank of the Republic of Turkey (TCMB) Blog, featuring analyses by researchers within the TCMB, discussed the impact of the "Construction of the Century" campaign, conducted by the Ministry of Environment, Urbanization and Climate Change in the earthquake zone, on increased housing supply and regional rent inflation.
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