April Rent Increase Rate Announced: Here is the New Ceiling
How is the Rent Increase Calculated?
Within the framework of current legal regulations, rent increases are calculated based on the 12-month average of the Consumer Price Index (CPI) shared by the Turkish Statistical Institute (TÜİK). Accordingly, parties renewing residential or commercial lease agreements in April will be able to keep the increase rate at a maximum of 32.82%.
A New Era in the Market: Post-25% Cap Situation
With the removal of the 25% fixed increase cap and the return to determining increase rates based on inflation data (CPI), a new process has begun in the market. Experts evaluate these developments as follows:
-
Market Balance: The 32.82% rate is seen as a critical figure for finding a middle ground between property owners and tenants.
-
Metropolitan Impact: Although the rates are clear, it is emphasized that rental prices in metropolises such as Istanbul, Ankara, and Izmir continue to remain high.
-
Future Outlook: Real estate professionals predict that increase rates may follow a volatile course in the coming months, depending on the fluctuations in inflation.
Note: The determined rate of 32.82% represents the legal upper limit that property owners can apply. The parties may reach a mutual agreement on a figure below this rate.
