Istanbul’s top high streets show rising occupancy in 2024
Istiklal Street reclaims title as city’s busiest shopping avenue; local brands dominate retail mix
ISTANBUL, Türkiye (MNTV) — Three of Istanbul’s iconic shopping corridors — Istiklal Street, Bağdat Street, and the Nişantaşı district — maintained high occupancy and pedestrian traffic in 2024, bolstered by strong interest in local brands.
The 11th edition of the real estate brokerage’s “Istanbul High Streets” report revealed robust performance across these key retail hubs, with Istiklal Street emerging once again as the most visited location in the city.
The study analyzed foot traffic, vacancy rates, leasing activity, and the mix of local versus international brands, reported Daily Sabah.
Despite limited space, Istiklal Street experienced a rise in weekday footfall by 2% to 207,000, while weekend traffic jumped 7% to 313,500.
With an estimated monthly average of 7.5 million visitors and an annual total of 90.1 million, the famed pedestrian avenue continued to serve as the epicenter of metropolitan tourism.
The report noted that the overall number of vacant stores has continued to decline across all three areas, as new leases outpaced availability.
In 2024, 24% of stores previously undergoing urban transformation and 34% of stores vacant in 2023 were successfully leased.
Bağdat Street, the city’s longest high street on the Anatolian side, also retained strong interest despite a temporary decline in footfall attributed to municipal renovation works and ongoing redevelopment.
The street saw 31.4 million visitors over the year, down from the previous year.
Still, leasing activity surged in Bağdat Street, which held the largest share of foreign brands among the three areas at 21%.
Nişantaşı followed at 17%, and Istiklal Street came in at 15%.
Store availability in Bağdat Street decreased slightly, from 335 to 329, while 324 units were occupied.
Empty storefronts declined from seven to five.
In Nişantaşı, however, vacant stores increased from 14 to 18 out of a total of 370, down from 374 the previous year.
Nişantaşı experienced the most notable growth in footfall.
Weekend pedestrian numbers surged by 59% to 153,000, while weekday averages held steady at 78,000.
The district drew 36.2 million visitors over the year, with a monthly average of 3.01 million.
Local retailers remained the backbone of Istanbul’s high streets, accounting for 82% of total store occupancy across all three areas, underscoring the enduring appeal of domestic brands amid global economic shifts.
Have Your Say!
Have you been affected by the issues raised in this story? Please share your experiences by emailing haveyoursay@soundvision.com.
Please include a contact number if you are willing to speak to a Muslim Network TV’s representative. You can also get in touch in the following ways:
Tweet: @MuslimNetworkTV
We must take charge of our narrative. Research indicates that 92% of their Muslim coverage is negative. Help us change that.
