Istanbulites discuss economic crisis at home, municipality survey shows

Over half of the respondents to the Istanbul Planning Agency’s June 2024 survey stated that economic issues were their main topic of discussion at home. The majority were pessimistic about economic conditions, while 34.9 percent “barely got by” each month.

Friday July 12 2024 09:39 pm

Duvar English

The Istanbul Planning Agency (IPA), a subsidiary of the Istanbul Metropolitan Municipality, on July 12 published its Istanbul Barometer report for June 2024.

The agency surveyed 1,004 Istanbul residents to gauge public opinion regarding a variety of issues.

In June, the primary concern for Istanbul residents was the economy. About 53.8 percent of participants said they discussed economic issues at home.

A majority, 69.2 percent, expressed disapproval of the proposed 20-percent tax policy for monthly rent payments, which would then be given to the landlord. Additionally, 89.6 percent believed the policy would have negative consequences.

If implemented, 42.2 percent of participants expected rent prices to rise, 17.5 percent anticipated economic problems, and 12.1 percent predicted conflicts between tenants and landlords.

Among the respondents were both renters and landlords. Some 48 percent of renters expected rent increases, while 37 percent of landlords shared this view.

Furthermore, 92.9 percent of renters and 86.5 percent of landlords foresaw negative outcomes from the policy.

The survey also measured stress and happiness levels, which were 6.6 and 5.4 respectively. Economic issues were mentioned by 58.4 percent of participants as a frequent topic of discussion. The Israeli occupation of Gaza came in second at 18.4 percent, followed by the Euro 2024 European Football Championship at 5 percent.

Only 18.1 percent of participants were optimistic about Turkey's economy, while 37.3 percent believed conditions would remain the same, and 44.6 percent expected it to worsen.

Compared to April, the percentage of those who anticipated economic deterioration increased, while those expecting improvement decreased.

The rate of respondents who paid off all their credit card debt decreased from May to June (blue), while those who could not pay at all increased (green).

With regard to credit card premiums, only 46.8 percent of the participants stated that they fully paid off their cards in June. Meanwhile, 29.3 percent paid off only their minimum payment. Some 9.1 percent stated that they could not pay their credit card debt at all.

Topics IPA Istanbul Metropolitan Municipality survey economic crisis Credit Card debt