The rental rate for July 2019 has been announced. How much did the rent of those who signed the lease in July last year and those that will be renewed in July 2019?
Here is the average rent increase for July 2019 …
How is the rent increase calculated in Turkey?
To calculate the increase in rental rates in July 2019 to June, the Turkish Statistics Institute (TUIK) considers the price index numbers. The rent, calculated in advance according to the PPI, is calculated within 12 months according to the consumer price index with The law that has changed in the previous months.
Rent increase rate in Turkey for July 2019
The local producer price index rose 0.03 percent on a monthly basis. In July 2019, the rate of increase in rent was 19.88 percent. This figure is the highest legal limit for the increase in rental rates between owners and tenants. Owners will not be legally able to collect more than 19.88% of the rent.
Example of rent increase calculation
The rent is calculated as follows: The tenant who pays monthly (1000) Turkish lira as an apartment rent, the rent will be increased to (1198) TL
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Source: Turkish Statistical Institute