Following the announcement of July inflation data by the Turkish Statistical Institute (TÜİK), the ceiling increase rate applicable to rents in August has been determined.
Accordingly, the upper limit for rent increases that can be applied to residences and workplaces in August has been calculated at 31.90 percent.
The ceiling increase rate applicable to rents is determined based on the 12-month average formed by the inflation data announced by TÜİK. This rate serves as the upper limit taken into account during the renewal period of rental contracts.
A 25 percent rent increase cap had been applied to residential rents for two years until July 2024. Following the removal of this practice, the 12-month inflation average has once again become the basis for rent increases.
News Source: 12punto
