1 / 7
The Turkish Statistical Institute (TÜİK) has shared the inflation figures for August with the public.
2 / 7
The Consumer Price Index (CPI) increased by 2.04 percent on a monthly basis, while annual inflation stood at 32.95 percent.
3 / 7
RENT INCREASE RATE IS 39.62 PERCENT
Following the announcement of the inflation data, the ceiling increase rate to be applied to rental contracts in September has also been determined.
4 / 7
According to the calculation based on the 12-month average of the CPI, the rent increase rate has been set at 39.62 percent. This rate will be valid for both residential and commercial properties.
5 / 7
As of July 1, 2024, the 25 percent increase limit applied to rental contracts was lifted. Thus, rent increases are now fully indexed to the CPI average.
6 / 7
In accordance with Article 344 of the Turkish Code of Obligations, rent increase rates are calculated based on the 12-month average of the CPI.
7 / 7
Example calculation
Current rent amount: 10,000 TL
CPI 12-month average: 39.62 percent
10,000 TL x 39.62% = 3,962 TL increase
New rent amount: 10,000 + 3,962 = 13,962 TL
News Source : 12punto
