How much was the rent increase rate in Turkey in August?

Gül Demirci 3 August 2023

1,185 1 minute read

How much was the rent increase rate in Turkey in August?

The rent increase rate for August was announced with the inflation data for July. With the July inflation announced by TURKSTAT, the CPI figures affecting the rent increases have also become clear. Well, how much was the rent increase rate for August? How much is the rent increase, how many TL?

With the announcement of inflation data, the rent increase rates for August started to be questioned by property owners and tenants. The rental increase rate for August would normally be determined based on the 12-month average of the CPI, but with the limitation of the rent increase introduced by the government, the rate of increase to be made in August was determined. So, how much is the August rent increase, how many TL?

25 PER CENT INCREASE LIMIT IN RENT EXTENDED

With his statement, Minister of Justice Yılmaz Tunç announced that the 25 per cent rent increase limitation was extended and said the following;

“The regulation imposing a 25 percent limitation on the rent increase will be valid for one year as of 1 July 2023. When the parliament convenes after the feast, the regulation will be enacted.”

Accordingly; In the new year, the 25 percent increase limitation in rent will continue until 1 July 2024.

WHAT IS THE AUGUST RENT INCREASE RATE?

The rent increase rates, which are normally calculated according to CPI data, were limited to 25 per cent after the application introduced by the government.

Accordingly; In contracts renewed between 11 June 2022 and 1 July 2024, the tenant will not be able to increase more than 25 percent.

The 25 per cent increase limit will only apply to housing. There is no such limit for workplace rents.