CPI-based rent increase rates had been capped at 25 percent for the last 2 years following a policy introduced by the government.
With this limit being lifted as of last July, tenants renewing their contracts will now have their rent increases calculated based on the CPI.
IT BECAME 64.91 PERCENT
With the Turkish Statistical Institute announcing the inflation rates for August, the rent increase rates for residential and commercial properties have also been determined.
Accordingly, rent increases for residential and commercial properties will be calculated based on the 12-month average.
With the announced August inflation data, the ceiling increase rate to be applied to residential and commercial rents has been finalized at 64.91 percent.
News Source: 12punto
