Prime office rents in Istanbul climbed to a record 52 dollars per square meter per month in the second quarter of 2026, up 13 percent from a year earlier in dollar terms, according to a new report.
Cushman & Wakefield TR International’s Türkiye MarketBeat Half Year 2026 report attributed the rise to limited prime office supply, low vacancy rates in the central business district and sustained demand for well-connected, high-quality buildings.
In lira terms, prime rents reached 2,359 liras per square meter per month, an annual increase of 32.6 percent.
Levent-Etiler recorded the highest rate at 52 dollars, followed by Maslak at 40 dollars.
Prime rents stood at 35 dollars in Esentepe-Gayrettepe-Zincirlikuyu and on the Asian side, 25 dollars in Ankara and 22 dollars in İzmir.
New leases in Istanbul’s Grade A office market totaled 86,202 square meters in the first half of the year, rising 57 percent from the same period of 2025.
The market has recovered from the pandemic-era shift to remote work, while limited development and the conversion of some offices to housing have reduced the supply of modern, centrally located space.
