Build-to-Rent Boom: What Istanbul’s New Developments Offer Tenants

A cluster of new high-rise build-to-rent (BTR) projects in Istanbul’s Sisli and Kartal districts is giving renters access to amenities once only found in premium condominiums—at monthly rates that, for many, still undercut soaring mortgage payments.

The shift toward BTR comes as sales prices climb well above the reach of Istanbul’s middle class. With the average sale price now hovering around $2,500 per square meter—and required minimums for the citizenship-by-investment program still inflating demand from overseas buyers—competition in the owner-occupier segment is fierce. For locals squeezed out of the sales market, rental options with flexible terms and modern facilities hold fresh appeal.

Tenants Find a New Kind of Home

Taksim 360, a flagship BTR project by Gap Insaat, sits just off the bustling Istiklal Caddesi in Beyoglu. The development, completed in late 2025, offers 480 fully furnished units, a co-working lounge, rooftop gym, and year-round 24/7 security—all wrapped in a managed rental package. In Sisli, developers like Torunlar GYO have followed suit, converting older office blocks on Halaskargazi Caddesi into serviced apartments targeted directly at young professionals, digital nomads, and international students.

“We’re seeing an influx of residents who want predictable costs and no maintenance headaches,” a property manager at a Kartal build-to-rent tower told The Daily Istanbul. The model appeals to tenants who report being priced out of the for-sale market but still want "home-like" amenities and leases as short as 12 months. Some BTR complexes, such as EgeYapi’s new Ataşehir site, even host on-site yoga classes, business networking events, and communal gardens.

Rental Costs and the Numbers

According to Endeksa’s June 2026 report, Istanbul’s average monthly rent now sits at approximately 32,000 TL for a two-bedroom flat in central districts—a 12% increase year-on-year. In BTR-focused buildings, entry-level studios in Besiktas or Beyoglu are leasing for between 36,000 and 45,000 TL per month, depending on size and included services. That’s still under the cost of a mortgage for a comparable new-build unit: with 20% down, today’s interest rates mean monthly repayments often sit above 55,000 TL, not including maintenance fees and homeowner dues.

For tenants, the predictable all-in costs—covering utilities, internet, repairs, and building amenities—provide a buffer against Istanbul’s still-volatile inflation and rising bills. Multi-lingual leasing offices and flexible contract terms also attract expats, who now make up over a quarter of residents in some Beyoglu complexes according to Istanbul Property Advisors.

What’s Next for Renters?

While BTR addresses some affordability issues, its overall market share remains small, concentrated in central or rapidly gentrifying areas. For prospective tenants, experts recommend carefully comparing included services, checking security of tenure, and understanding the building’s legal structure—some BTR sites operate under commercial lease law, which can affect tenant protections.

Major projects slated for completion in 2027—such as Özak GYO’s Maslak Axis Residences—promise additional supply. But for now, build-to-rent living increasingly offers Istanbul residents the flexibility, convenience, and predictability lacking in both the overheated sales market and ageing rental stock.