November rent increase rate has been announced

Following the announcement of inflation figures for October, the increase rate to be applied for tenants and property owners renewing their rent contracts has been determined. According to the data announced by the Turkish Statistical Institute (TÜİK), the Consumer Price Index (CPI) was 2.55 percent monthly and 32.87 percent annually in October.

NOVEMBER RENT INCREASE RATE HAS BEEN FINALIZED

The November rent increase rate, determined based on the 12-month average of the CPI, was calculated at 37.15 percent. Thus, residential and workplace tenants renewing their rent contracts this month will make payments with this increase. Recalling that the increase rate announced the previous month was 38.36 percent, it is observed that there is a limited decrease in rent increases in November.

CPI IS TAKEN AS THE BASIS FOR CONTRACT RENEWAL

Just like tenants who renewed their rent contracts in October, those who will renew in November use the 12-month average data of the CPI as a reference in the increase calculation. As required by legislation, residential and workplace rent increases are determined based on this announced average.

News Source: 12punto