December rent increase rate announced: Here are the new calculations item by item
The increase rate for residential and commercial rents in December has been determined based on the November inflation data announced by TÜİK. For this year, the rent increase will be calculated based on the annual CPI rate and has been set at 60.45 percent. In this case, for a sample rent of 25,000 TL, a raise of 15,112 TL will be applied to the current rent. So, what is the December rent increase rate, what is the percentage? How much is the residential and commercial rent hike, how many TL? Here are the details...
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Following the announcement of October inflation data by the Turkish Statistical Institute (TUIK), the November rent increase rate has been determined.
With the inflation data announced by TUIK at the beginning of each month, rent increase rates continue to be on the agenda of homeowners, workplace owners, and tenants.
The November rent increase rate will be determined according to current CPI rates, due to the expiration of the 25 percent rent hike cap that had been in place by the government for the last 2 years.
So, what is the November rent increase rate, what is the percentage? How much is the November 2024 rent hike, how many TL?
WHAT IS THE DECEMBER RENT INCREASE RATE?
Under normal circumstances, rent increase rates calculated according to CPI data had been capped at 25 percent for the last 2 years following a practice introduced by the government.
As of July, this cap was lifted, and tenants renewing their contracts in December will apply the rent hike based on the CPI.
Accordingly, the December rent increase rate will be applied as 60.45 percent, following the 12-month CPI data being 60.45 percent.
DECEMBER RENT INCREASE RATE CALCULATION
Current Rent Amount: 25 thousand TL
Month of Rent Increase: December 2024
Increase Rate Entered: 60.45 percent
Rent Increase Amount: 15 thousand 112 TL
New Monthly Rent Amount: 40 thousand 112 TL
IF THE RENT HIKE HAD BEEN CALCULATED ACCORDING TO THE 25 PERCENT CAP
Current Rent Amount: 25 thousand TL
Month of Rent Increase: December 2024
Increase Rate Entered: 25 percent
Rent Increase Amount: 6 thousand 250 TL
New Monthly Rent Amount: 31 thousand 250 TL
