With the release of Turkiye’s July inflation data, the rent hike rate for August has been set at 65.93%, allowing landlords to apply this percentage to new rental contracts.
The Turkish Statistical Institute (TUIK) has officially announced the rent increase rate for August, following the release of July’s inflation figures. According to TUIK, the Consumer Price Index (CPI) recorded a 12-month average inflation rate of 65.93% in July. As a result, landlords across Turkiye are now authorized to raise rents by up to 65.93% for contracts renewing in August.
This announcement follows the expiration of the 25% rent cap that was in effect until July. Last month, the maximum allowable rent increase was 65.07%, but with the new inflation data, the August adjustment sees a slight uptick. The rent increase rate is calculated based on the 12-month average inflation, making it a key indicator for both tenants and property owners.
Source: Dunya.com / Prepared by Irem Yildiz
