Changes in Taxi Prices
Taxi plate prices, which rose rapidly at the end of the 80s, continue their rise due to the high demand in the sector. The increasing popularity and return on taxi investment cause demand to increase in parallel, while sales figures continue to rise despite the increasing prices. The main reason for the astronomical rise in taxi prices today is the continuously increasing demand and the number of taxi plates that cannot meet this demand. Due to the demand exceeding supply, people who want to buy a taxi plate have to think twice before making a decision because of the plates that continue to strengthen and rise. So, will taxi prices fall?
A decrease in taxi plate prices is not expected in the near future. Especially in Istanbul, where the population is rapidly increasing every day, a rapid rise in plate prices is expected in the summer, let alone a decrease.
Difficulties of Buying a Commercial Plate
The main reason for this is that expatriates use their accumulated cash for vacation investments by buying commercial plates during their summer holidays, and as a result, demand suddenly increases. During these periods, plate prices rise very rapidly. The most important reason why expatriates see taxi plates as an investment tool is that the plates generate an average monthly income of 5,000 lira. If the large amount paid for the plate is deposited in the bank, it can provide an interest return close to these figures, but the money remains fixed. The biggest advantage of investing in a plate is that the plate prices are constantly increasing. In other words, the plate provides a regular return equal to the interest income and also multiplies its own value. Especially in Istanbul, taxi plate prices have now reached levels that would make those who work in this profession as a career lose money. The increase in prices also means that the monthly installment prices that people who want to rent a taxi plate have to pay, and the station rents for people who want to work tied to a station, increase at the same rate. Therefore, at this point, the prices must fall for the sector to breathe a sigh of relief and for the working laborers to truly get the reward for their labor.
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