Central Bank Analysis: Rent Inflation Slows with Increase in Supply
A recent study by the Central Bank of the Republic of Turkey revealed that rent inflation, which rose following the earthquake, has entered a slowdown trend alongside the increase in housing supply.
According to the analysis published by the Central Bank of the Republic of Turkey, rent inflation—which escalated due to losses in the housing stock and migration following the February 6, 2023 earthquakes—has entered a slowdown process thanks to public-led reconstruction activities and TOKİ housing deliveries.
Background of Rent Inflation
In the evaluation featured on the Central Bank of the Republic of Turkey's blog page, it was stated that rent is among the items exhibiting the highest rigidity during the disinflation process, and that earthquake effects have a major share in this outlook.
Losses in Housing Stock After the Earthquake
In the analysis prepared by CBRT researchers, it was noted that the housing stock decreased significantly following the February 6, 2023 earthquakes, and this situation led to a rapid rise in rents in the region.
Migration Movements and Increase in Demand
It was emphasized that migration movements from the region to other provinces following the earthquake triggered the demand for rental housing in receiving provinces and, consequently, pushed rental prices upward.
TOKİ Housing Deliveries and Supply
Information was shared that the number of earthquake houses whose construction was completed by the Housing Development Administration reached the level of 201 thousand at the beginning of 2025 and approximately 434 thousand by the end of the year.
Slowdown Trend in Inflation
It was reported that rent inflation in the earthquake-affected provinces began to slow down in 2025, when housing deliveries gained momentum, and that this positive picture was also felt in 2026 in provinces indirectly affected by the earthquake.