The rental increase rate has been determined after the inflation data for the month of July.

The Turkish Statistical Institute (TÜİK) has announced the inflation figures for July. According to TÜİK data, the change in the Consumer Price Index (CPI) recorded an increase of 3.23 percent compared to the previous month in July. The inflation rate on an annual basis, however, decreased to 61.78 percent.

A POSSIBLE INCREASE OF 65.93 PERCENT

Following the release of TÜİK's data, the rate of rent increase for housing has also been determined. Accordingly, landlords whose contracts expire this month will be able to increase their rents by 65.93 percent.

THE 25 PERCENT LIMIT ENDED IN JULY

As it is remembered, the 25 percent rent increase limit, which was introduced to prevent excessive rent increases, ended in July.

CALCULATION EXAMPLE

Current rent amount: 10,000 lira

Rate of increase: 65.93%

Amount of increase: 6,593 lira

New rent amount: 16,593 lira

INCREASE AMOUNTS BASED ON RENT

Old rent: 12,000 lira - New rent: 19,911 lira

Old rent: 14,000 lira - New rent: 23,230 lira

Old rent: 16,000 lira - New rent: 26,548 lira

Old rent: 18,000 lira - New rent: 29,867 lira

Old rent: 20,000 lira - New rent: 33,186 lira

Old rent: 25,000 lira - New rent: 41,482 lira

Old rent: 30,000 lira - New rent: 49,779 lira