The 25 percent discount on rents will end on July 1st.

The limit of 25% increase, which was initiated to curb the excessive increase in rental fees in housing due to the high inflation in recent years, will end as of July 1. After a 2-year period, the rental increase will be based on inflation rates again.

RENT INCREASES WILL BE BASED ON CPI AGAIN

After the annual inflation rate reached its peak at 75% in May, the government announced that inflation would start to decline. It was stated that the practice, which has been valid during the contract renewal period for 2 years, will not continue. After the end of the practice on July 1, rent increases will be determined based on consumer inflation again.

NO INCREASES CAN BE MADE FOR PERIODS BEFORE JULY

In rental increases based on consumer inflation (CPI), landlords cannot make an increase above the CPI limit, and no new increase can be requested from those whose rental period is before July for this year.

WHAT WILL BE THE RENT INCREASE RATE IN JULY?

The rent increase rate, taking into account the CPI, will be determined according to the 12-month average inflation. Thus, landlords and tenants will base their determination of the increase on the 12-month average inflation.

The rent increase rate for July will be determined by the inflation figures announced by the Turkish Statistical Institute (TÜİK) for June. The inflation data for June will be announced on Wednesday, July 3, 2024, at 10:00.

WHAT WAS THE RENT INCREASE RATE IN JUNE?

If there was no 25% limit, when the Turkish Statistical Institute (TÜİK) announced the inflation figures for June, the rental increase rate in housing would have been 62.51% based on the 12-month average inflation rate.