Accommodation or the right to adequate housing, as a human right, is an integral part of the right to an adequate standard of living. However, the world has lately been dealing with an unprecedented surge in housing and rental prices that threatens this very fundamental right. Realtor companies, research centers, the Central Bank of the Republic of Turkey (CBRT), and the Turkish Statistical Institute (TSI) data provide enough evidence that house prices and rental costs are soaring, up to a few hundred percentage points in Turkey.
This recent sizable jump in property prices and rental rates, however, is mainly due to supply shortage and increasing costs of production. There is, overall, certainly a very high demand due to the younger population, increasing external demand, and recent migration waves towards Turkey. Meanwhile, housing supply has also been relatively weak and insufficient, which has affected the increasing house and rental prices and often leading to false allegations against immigrants.
Meanwhile, as of June 2022, official records reveal that the average housing demand from foreigners is about 5-6 percent of the total demand in Turkey. In other words, foreigners, and especially immigrants, are being scapegoated and hence, there is an urgent need to shed light on some misperceptions over property prices in Turkey and put an end to the theory that mainly immigrants or foreigners cause inflation or house price booms.
Read more on Politics Today: House Inflation and Scapegoated Immigrants in Turkey
