Breaking News... Attention landlords and tenants! September rent increase rate announced

With the Turkish Statistical Institute (TÜİK) announcing August inflation at 1.84 percent, the maximum increase that can be applied to rental contracts renewing in September has been clarified.

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Breaking News... Attention landlords and tenants! September rent increase rate announced

Following the announcement of August inflation data by the Turkish Statistical Institute (TÜİK), the increase rate that can be applied to rental contracts in September has been determined.

According to TÜİK data, inflation in August was 1.84 percent. With the announced data, the rent increase ceiling for contracts renewing in September has been calculated at 31.79 percent.

Accordingly, landlords cannot impose an increase above 31.79 percent on rental contracts expiring in September. The legal upper limit for rent increases is determined based on the 12-month average of the Consumer Price Index (CPI).

News Source: 12punto