Increase in Housing Supply in the Earthquake Zone Suppresses Rental Inflation

According to a report published by the Central Bank of the Republic of Turkey, the acceleration of housing supply and the beginning of the return migration wave in the earthquake zone have started to distinctly suppress rental inflation both in the region and in surrounding provinces.

New Study from the Central Bank

The Central Bank of the Republic of Turkey published a comprehensive new study examining the effects of reconstruction activities in the earthquake zone on the rental housing market. The report detailed the effects of changes in the housing market following the disaster on inflation.

Large Increase in Occupancy Permits

It was stated that thanks to reconstruction activities led by the public sector, housing supply in the region has shown a rapid increase. It was noted that the share of the earthquake zone in Turkey's overall occupancy permits, which was around 12 percent before the earthquake, rose to over 20 percent in 2025.

Downward Trend in Rental Inflation

Attention was drawn to the fact that the strong recovery in housing supply is directly reflected in the pace of rental increases. It was emphasized that rental inflation in the earthquake-affected provinces entered a downward trend in 2025, when housing deliveries gained momentum.

Effects of Return Migration on the Market

It was observed that the positive divergence was not limited to the earthquake zone alone. Along with the improvement of the housing stock in the earthquake zone, it was reported that the demand for rental housing in provinces that previously received migration from these areas has gradually decreased through the channel of return migration.