Millions in Turkey are concerned: Will the 25 percent rent increase limit expire or be extended?
The question of whether the “25% rent increase limit” applied in residential leases will be extended is currently on the agenda. The “25% limit” introduced to prevent exorbitant rent increases, is expected to end in 2024. The Disinformation Combat Center stated in a release that Minister Şimşek had mentioned that the regulation would be reconsidered near its expiration.
There is a discussion about not extending the 25% rent increase limit. It is claimed that there will be no extension of the regulation set to expire in July 2024.
On the other hand, the Presidency Communications Directorate issued a correction to news suggesting that the 25% limit would be definitively lifted at the end of the period. The statement from the Directorate emphasized that Minister of Treasury and Finance Mehmet Şimşek’s remarks in a meeting that the regulation would be “reconsidered near its expiration” did not necessarily mean that the regulation would be definitively extended.
According to NTV’s report, a regulation was implemented in 2022 as a precautionary measure to curb exorbitant rent increases by landlords, and a rent increase limit was set until July 1, 2023. The period was later extended until July 2024.
No decision has been made regarding the regulation
The statement included the following: ” Minister of Treasury and Finance Mehmet Şimşek held a closed-door meeting with representatives from the business and finance world. In response to a question about the regulation limiting the rate of rent increases in housing leases to 25%, which will expire on July 1, 2024, Minister Şimşek stated that it would be reconsidered near its expiration. While no decision has been made regarding the regulation on residential rent increases, there is also no official statement from Minister Şimşek to the public.”
