Istanbul's housing boom leaves vacancy crisis unsolved as affordability plummets
Istanbul's residential tower construction boom has failed to reduce housing costs despite massive building, with vacancy rates informally estimated at 30 percent. High-end developments, investor speculation, and government policies prioritizing growth over affordability perpetuate the crisis globally. Similar patterns in Vancouver, Toronto, and Australian cities show building surpluses alone cannot solve housing affordability without addressing speculation and developer profit motives.
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Published 18 Jul 2026, 03:30 UTC · Updated 18 Jul 2026, 03:40 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections