Home and workplace rent hikes announced… New rate in September rent hike

In September 2024, the rent increase rates for homes and businesses in Turkey have been determined based on the inflation figures announced by the Turkish Statistical Institute (TÜİK). The inflation rate for August 2024 was reported as 51.97%, with the 12-month average Consumer Price Index (CPI) reaching 64.91%. This 64.91% figure will be used as the basis for calculating the rent increase.

For example, if your current rent is 20,000 TL, applying the 64.91% increase would add 12,982 TL, making the new monthly rent 32,982 TL.

The temporary legal cap of 25% on rent increases, which was implemented in 2022 due to skyrocketing rental prices, ended on July 1, 2024. As a result, landlords are now allowed to apply the full CPI-based increase when renewing leases.