Istanbul retail occupancy hits 98% on prestigious streets

Retail occupancy rates on Istanbul’s most prestigious shopping streets have reached 98%, according to data from CBRE Turkey. Demand for high-quality retail space is currently outstripping supply, particularly in key locations such as Nişantaşı—specifically Abdi İpekçi and Teşvikiye streets—and Bağdat Caddesi on the Anatolian side.

This surge in demand is driven by the expansion plans of international luxury brands and a consumer preference for open-air shopping and social experiences. Sectors showing intense interest include luxury retail, cosmetics, gourmet restaurants, and food and beverage.

Due to the scarcity of available ground-floor spaces with high visibility and pedestrian traffic, the rental market is shifting in favor of property owners. The limited supply of qualified retail areas means that vacant spaces are being leased almost immediately, often before they are even officially back on the market.