Turkey's Kilis sees sharp drop in rents as Syrian refugees return

The city of Kilis, in southern Turkey, has witnessed a significant decline in residential rental prices due to the return of increasing numbers of Syrian refugees to their country. This has led to a sharp decline in demand for apartments and has had a direct impact on the city's real estate market.

According to local reports, rental prices have fallen by up to 50% compared to last year. Apartments that were previously rented for 15,000 Turkish liras per month have now fallen to around 7,000 liras, amid increasing difficulty finding tenants even with these significant discounts.

The Bigpara website quoted several real estate agents as saying that this decline accelerated with the end of the school year and the release of school report cards, as many Syrians chose to return to their areas within Syria, easing the population pressure on the city.

Mehmet Cavusturan, Chairman of the Board of Directors of Cavusturan Real Estate, confirmed that the price decline was not uniform across all of the city's neighborhoods. He explained that neighborhoods inhabited by groups such as state employees—such as Yeni Beşifler and Kazım Karabakir—have witnessed relative stability, unlike the working-class neighborhoods that have witnessed a significant decline in prices.

Cavusturan noted that some apartments, particularly older ones with traditional stoves, are being offered for prices starting at 2,000 Turkish liras per month, but are finding no renters. He added, "Even homes with natural gas are now being offered for between 5,000 and 6,000 liras, and in some cases even less."

These shifts reflect the impact of demographic changes in the city, as thousands of Syrian families have returned to their country since the fall of the Assad regime, particularly through the Öncüpınar border crossing. Kilis is one of the Turkish provinces that has hosted a high percentage of Syrian refugees, representing more than 26% of the province's population.

The return of Syrians has contributed to a reduction in rental demand, which has pleased some local residents, but has posed a major challenge for real estate agents, who are currently suffering from an unprecedented market downturn.

Fares Al-Rifai - Zaman Al-Wasl