On May 2019 rent increase rate was Actual certainty in Turkey
In May 2019, rental rates were announced. How long have the rents been signed in May last year and the ones who will renew the lease agreement in May 2019? Here is the rental rate of May 2019
How is the rent calculated?
To calculate the lease rate in May, 2019 to April of Turkey Statistics Institute (TUIK) Domestic Producer Price Index (Yi-PPI), we need to look at the figures. The rent, which was calculated according to the PPI average in the past, it is calculated in 12 months periods according to the rate of the CPI in the past months.
May 2019 rent increase rate
Domestic producer price index increased by 2.98 percent on monthly basis. In May, the rate of increase in rent was 19.39 percent. This figure is considered to be the legal upper limit of the increase in rent prices between landlords and tenants. Leaseholders will not be able to raise the rental rate by more than 19.39 percent.
Example of rent calculation
The rent price who pays 1,000 (thousand) TL as a rent price may increase by 193 TL. Thus, the rent amount of 1,000 (thousand) TL was TL 1,193 with the raise.