Türkiye’s rent crisis forces Türkiye Isbank CEO to vacate his house

The CEO of Türkiye Isbank Hakan Aran recently expressed his frustration over rising rent prices, revealing that he was personally affected by the issue. He shared that he had to move out of his rented home due to an exorbitant rent increase.

Rent increases hit hard

According to Handan Sema Ceylan’s report from Ekonomim, Aran highlighted the severity of the rent hikes in Türkiye, pointing out that many employees are spending half of their salaries on housing costs.

“I am also a tenant, and I had to move out of my house,” Aran explained. “The landlord wanted to increase the rent from ₺12,000 ($350) to ₺75,000. As a result, I rented another property owned by the bank’s pension fund for the same amount.”

Impact on employees and housing access

Aran emphasized that the rising rents are forcing many workers to live far from their workplaces. “When people whose rents have increased look for a new place to rent at the same price, they often have to go to much farther areas of the city,” he said.

He also noted that people must be able to own homes in the areas where they live and work, which would help address the growing housing affordability problem.

The CEO‘s comments underscore the need for policy changes to make housing more accessible and affordable for Türkiye’s working population.