Earlier this week, Turkish Justice Minister Bekir Bozdag issued a statement according to which the authorities decided to introduce a separate clause in the current law regulating rent increases.
Already today, June 11, 2022, Turkey’s official government gazette Resmi Gazete came out with temporary changes to the “Debt Law” (6098 sayılı Türk Borçlar Kanunu), which will be valid until July 1, 2023.
According to the new decision of the Turkish government, an agreement to extend the rental value will be considered valid only if the increase in payment does not exceed 25% (twenty-five percent) of the previous year’s rental value.
As a reminder, previously the maximum rent increase in Turkey could not be higher than the average consumer price index (Tüketici fiyat endeksi – TÜFE) for the past 12 months. For example, in May, with the inflation rate TÜFE equal to 73.5%, landlords had the right to raise the annual rent for housing by 34.46%.
