In a recently released survey by a top international real estate firm, Turkey has seen several prime business locations with rents rising substantially over the past year. Three locations in the country came in at the top of the list for increased rates, with two of these in the city of Istanbul, the country’s financial and business center. Recent development and investment in the city and country has led to an increased need for office space as well as living quarters for businesses from both local and international investors.

Rental prices in Gayrettepe - Esentepe region has increased 81% during the past year. This increase has surpassed Levent and Maslak area in terms of percentage. The demand for Class A office space in Istanbul is increasing and the vacancy rates nearly reached zero. The new office properties also help increase the rental rates in the regions they are built in. Esentepe region also witnessed immense increases in rent prices right after Astoria opened its doors in the region.

Maslak, Esentepe, Sisli, Mecidiyekoy, Levent and Ataturk Airport area in the European part and Umraniye, Kozyatagi, Altunizade and Kavacik areas in the Asian part of Istanbul are Istanbul’s major neighborhoods where office buildings are located. All these neighborhoods are home to properties that has seen substantial increases in rental income over the past 3 years, some increasing over %100 between 2005 and 2007.