The highly anticipated rate of increase in rents in April has lately been announced. Turkey’s Statistical Institute has announced the price index. According to this, property owners will be able to raise 15.35 percent of their tenants.
Because the rent of workplace and house is calculated differently, it is possible for the tenant in the city to pay for the workplace whenever they need to raise the UFE by law. This rule will change by 2020 and the UFE will be implemented.
According to TURKSTAT’s statement made on April 3, 2018, there has been an increase of 1.54 percent compared to the previous month, 5.29 percent compared to December of the previous year and 14.28 percent compared to the same month of the previous year. In accordance with this, the tenant who pays 1000 TL monthly will now pay TL 1,153.5.
If the rent is determined as foreign currency by agreement, the rent can not be changed unless five years pass. After the passage of five years, the provision of the third paragraph is being applied, in consideration of the changes in the value of the foreign currency, in determining the rental price.
