The 25 percent limitation on rents, which has been in effect throughout Turkey since June 2022, ended as of July 1. The rate of increase in rents was determined by the new period and announced as 65.07 percent. From now on, rent increases will be determined according to the Consumer Price Index (CPI).
Evaluation from the President of the Federation of Real Estate Consultants Thailand
Hacı Ali Taylan, President of the Turkish Federation of Real Estate Consultants, stated that rents have decreased by 5-10 percent compared to last year. Taylan said, “Citizens do not want to change the neighborhood they live in, but they have difficulty finding affordable housing.”
High Prices and Supply-Demand Balance
Taylan, who emphasized that due to the Ukrainian war and the February 6 earthquakes in 2023, it was not possible to find a house in cities such as Antalya, Mersin, Ankara, Istanbul and Izmir, said, “Many of the people who came from here returned to their own cities. There is no problem with the supply-demand balance, houses are available but the prices are high. When tenants cannot reach an agreement with their landlords, they have difficulty finding affordable houses. In order for rents to fall, the state needs to put houses for sale or rent on the market.”
Realtors: Tenants Have Started Looking for Homes
Real estate agent Şaban Özdemir stated that the house changes will increase with the removal of the rent restriction. Özdemir made the following statements: “Many tenants were looking for houses because they thought they would not be able to afford the increases. There were those who looked for houses even without the rent increase.”
