Housing Rent Increase Limit Removed
After two years, the 25% limit on rent increases for housing has been lifted as of today. Starting from July, rent increases can be up to the average Consumer Price Index (CPI) increase over the past twelve months, just like it was two years ago.
The average CPI increase rate for July, which will determine the limit for rent increases, will be announced by TURKSTAT on Wednesday, July 3rd.
The 25% limit on rent increases was only applicable for residential properties. There was no 25% restriction for commercial properties.
Despite the 25% limit, the average increase in housing rents was 125.14% annually in May, according to TURKSTAT data. In May, the twelve-month average CPI increase was calculated at 62.51%.
