July Inflation Rate Revealed: August Rent Increase Rate Announced

The Turkish Statistical Institute (TÜİK) announced the July inflation rate, which determined the August rent increase ceiling. Based on the 12-month TÜFE average, the maximum increase rate was set at 31.90%. A new period has begun for landlords and tenants. According to the TÜFE data, prices increased by 1.78% in July compared to the previous month. The annual inflation rate was 31.75%, which is close to market expectations. With the clarification of the inflation figures, the legal rent increase ceiling for August was also calculated. The maximum increase rate that property owners can apply is 31.90%. Landlords and tenants who will renew their contracts in August will determine their new rent prices within the framework of this legal limit. This rate, which follows the 32.03% ceiling in June, indicates a gradual decline in rent increases.