Regulation on rent increases: Legal sanction to persons who make an increase above the CPI

Minister of Environment, Urbanization and Climate Change Murat Kurum has stated that with the project announced by the President in August, citizens in 81 provinces will become homeowners with installments like paying dues. The agency reported that legal sanctions will also be applied to rent increases on the CPI.

Housing prices increased in many provinces, especially Istanbul, with the opening of the gap between supply and demand.

With the increase in house prices and the increase in the number of rented houses, exorbitant increases in rental prices have also occurred. While tenants and landlords have started to face off frequently, buying housing has also become difficult compared to previous periods due to exorbitant price increases.

The government has rolled up its sleeves for both tenants and those who want to become homeowners. Minister of Environment, Urbanization and Climate Change Murat Kurum made a new statement on the issue today.

PRESIDENT TO ANNOUNCE PROJECT TO MAKE CITIZENS HOME OWNERS

KURUM said that President Erdogan would announce a project in which a citizen would become a home owner by paying installments such as paying dues. KURUM stated that the announcement would be made in August. The Minister also stated that exorbitant increases in rents would be punishable by law.