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Today, rental properties advertised on local real estate websites cost $30,000 a month or more. High prices have already led to an exodus of people from Istanbul. In the past year, 600,000 people have left the city, according to gazeta.ru, citing turkiyegazetesi.com.tr.
Rents are becoming more expensive, partly because Russian businesspeople have moved to Istanbul. They can rent houses for themselves and their guests for $59,000 or more, commented Erkan Zing, a representative of a luxury real estate company.
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