Has the 25% rent increase been extended? When will the 25 percent rent increase end?

Last year, changes were made to the regulation of the rent increase rate, which is determined based on the twelve-month average of the CPI. The rent increase rate will not exceed 25 percent of the previous year’s rent until July 1, 2023. The Minister of Justice ruled on the regulation that will end in July.

IS THE 25 PERCENT INCREASE LIMIT EXTENDED?

Action was taken last year as a result of the sharp increase in rental prices, and since July the increase in residential rents has been limited to 25 percent.

It is reported that the application will continue this year. The statement came from the Minister of Justice Yılmaz Tunç.

On the question of whether there will be a study on the regulation that includes a maximum increase of twenty-five percent between June 11, 2022 and July 1, 2023 in rent increases, Minister Tunç pointed out that the issue is the responsibility of the Grand National of Turkey. Assembly, not the ministry.

Recalling that said regulation will expire on July 1, Tunç said: “We are working, it will be enough.” he gave the answer.

PUBLISHED IN THE OFFICIAL GAZETTE

The law, which limits residential rent increases to 25 percent, was published in the Official Gazette on June 11, 2022, and went into effect. The law prohibited the increase in housing rents above the mentioned rate until July 1, 2023.