The 25 percent rent increase limit, which was implemented to control the high increases in rental fees due to recent inflation, will end as of July 1. With the end of this practice, which continued for 2 years, rent increases will again be determined according to consumer inflation.
Following annual inflation reaching 75% in May, the government announced that the rent increase limit would not continue with the expectation that inflation would start to decline. In this context, as of July 1, rent increases will now be calculated according to consumer inflation.
Landlords will now determine rent increases according to the CPI and will not be able to increase rents above the CPI limit. In addition, new increases cannot be requested for residences rented before July this year.
Rent Increase in July
Rent increases will be determined according to the 12-month average inflation. In this case, landlords and tenants will take the 12-month average inflation data into account when determining rent increases. The rent increase rate in July will become clear after the June inflation figures are announced.
June inflation data will be announced on Wednesday, July 3, 2024 at 10:00. Accordingly, the rent increase rate will be determined and tenants will face rent increases in line with this rate.
June Rent Increase Ceiling
Last month, the rent increase ceiling was determined by May inflation. The 12-month average inflation in May was announced as 62.51 percent. In this case, business owners whose contracts have expired have the right to increase rent by 62.51 percent.
Since the 25 percent rent increase limit is still in effect, the rate in question was not valid for housing rents. However, as of July, rent increases will be determined according to the CPI, which will change the balance between tenants and landlords.
