Economy in Turkey: March rental increase rate announced by authority

Along with the inflation data for February announced by the Turkish Statistical Institute (TurkStat), the Consumer Price Index (CPI) figures, which also affect rental increases, have been clarified.

According to the CPI data, rental increase rates were capped at 25% following a government-imposed practice. Accordingly; between June 11, 2022, and July 1, 2024, renewed contracts cannot have rent increases of more than 25%.

There is no limit on the rate of increase for businesses

There are no restrictions on the rate of rent increase for businesses. The rental increase rate for March was determined as 55.91%. Thus, business owners whose lease contracts expire in March will apply a maximum increase of 55.91% to their rents.

How is the March rental increase rate calculated?

Example: Current Rent Amount: 15,000 TL
Month for which the Rent Increase is Applied: March 2024
Entered Increase Rate: 25%
Rent Increase Amount: 3,750 TL
New Monthly Rent Amount: 18,750 TL