Should You Furnish Your Istanbul Rental? Cost vs. Value Analysis
One of the most common questions landlords ask when preparing a rental property in Istanbul is whether to rent it furnished or unfurnished. While furnishing a property requires an upfront investment, it can also significantly affect rental demand, income, and tenant profiles.
This cost vs. value analysis breaks down when furnishing makes financial sense — and when it doesn’t — in Istanbul’s diverse rental market.
Understanding Istanbul’s Rental Market
Istanbul’s rental demand comes from a wide range of tenants, including:
Local professionals and families
Students and academics
Expats and international workers
Corporate tenants
Short- and long-term renters
Each group has different expectations, which directly impacts whether a furnished property adds value.
The Cost of Furnishing a Rental in Istanbul
Furnishing costs vary depending on size, quality, and target tenant. On average, furnishing a 1–2 bedroom apartment may include:
Basic furniture (sofa, bed, dining set, wardrobes)
Appliances (refrigerator, washing machine, dishwasher)
Curtains, lighting, and minor décor
Estimated cost:
Mid-range furnishing typically ranges from $4,000–$8,000, while higher-end furnishing can exceed this depending on brand and design.
The Value of Furnishing: What You Gain
1. Higher Rental Income
Furnished apartments often command 10–25% higher rents, especially in high-demand districts.
2. Faster Tenant Turnover
Furnished properties tend to rent faster in areas with:
Expats
Corporate leases
Students
Short-term residents
3. Broader Tenant Pool
Furnishing appeals to tenants who prefer convenience and flexibility, including foreigners who relocate quickly.
When Furnishing Makes Sense
Furnishing is usually a smart choice in the following situations:
Central & High-Demand Areas
Neighborhoods such as:
Şişli
Beşiktaş
Kadıköy
Beyoğlu
Attract tenants who expect move-in-ready homes.
Expats & Corporate Rentals
Foreign professionals and corporate tenants often require furnished apartments, especially for 6–12 month leases.
Smaller Units
Studios and 1-bedroom apartments perform especially well when furnished.
When Unfurnished May Be the Better Option
In some cases, furnishing adds little value:
Family-Oriented Suburbs
Areas such as:
Başakşehir
Beylikdüzü
Esenyurt
Families usually prefer to bring their own furniture.
Long-Term Local Rentals
Unfurnished properties attract longer leases, lower turnover, and fewer maintenance issues.
Budget-Focused Markets
In price-sensitive districts, tenants prioritize rent amount over furnishings.
Maintenance & Depreciation Considerations
Furnished rentals require:
Higher maintenance
Replacement of worn items
Clear inventory tracking
While rental income may be higher, owners should budget for depreciation over time.
Short-Term vs Long-Term Rentals
For permitted short-term rentals, furnishing is essential and directly impacts nightly rates and reviews.
For long-term rentals, the decision should be based on:
Location
Tenant profile
Expected rental yield
Cost vs. Value: The Bottom Line
Furnishing is not always about maximizing rent — it’s about matching the property to the right tenant.
Furnished rentals work best when:
Demand is international or corporate
Unit size is small to mid-range
Location is central and well-connected
Unfurnished rentals work best when:
Target tenants are families
Leases are long-term
Budget control and low turnover are priorities
Final Thoughts
Furnishing an Istanbul rental can be a profitable strategy — but only when aligned with market demand and location. A poorly matched furnishing strategy can reduce returns, while a smart one can significantly boost income and occupancy.
