October rent increase rate announced! What is the percentage of the rent increase?

The October rent increase rate has been set at 63.47 percent following the announcement of CPI data. The 25 percent rent increase cap, which the government had implemented for the last two years, expired on July 2. For tenants whose contracts are now being renewed, the increase will be based on the 12-month CPI rate.

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October rent increase rate announced! What is the percentage of the rent increase?

Following the announcement of September inflation data by the Turkish Statistical Institute (TÜİK), the October rent increase rate has been determined. With the inflation data announced by TÜİK at the beginning of each month, rent increase rates continue to be on the agenda for homeowners, business owners, and tenants. The October rent increase rate will be determined according to current CPI rates, as the 25 percent rent increase cap, which had been in place for the last 2 years by the government, has ended. So, what is the October rent increase rate, what is the percentage? How much is the commercial rent increase, how many TL?

The 25 percent rent increase cap ended on July 2. For those whose contracts are to be renewed in October, the rent increase will be determined according to the 12-month CPI rate.

The landlord will not be able to exceed the CPI limit, and no new increase can be requested for this year from those whose renewal period was before July.

Accordingly, the 25 percent rent increase cap ended on July 2, 2024. Thus, residential tenants whose contract period has expired will make the increase in October based on the current 12-month CPI rate, remaining within the CPI figures.

Under normal circumstances, rent increase rates calculated according to CPI data had been capped at 25 percent for the last 2 years following the practice introduced by the government.

As of July, this cap was lifted, and tenants who will renew their contracts in October will make the rent increase based on the CPI.

Accordingly, the October rent increase rate will be applied as 63.47 percent, following the 12-month CPI data being 63.47 percent.