Wait Continues for September Rent Increase Rate
Landlords and tenants renewing their lease agreements are awaiting the August inflation data to be announced by TUIK on September 3.
Millions of tenants and property owners preparing to renew their lease agreements in September are focused on the official data to be announced by the Turkish Statistical Institute. The ceiling increase rate to be applied in the new period will be determined based on the 12-month average of the CPI.
TUIK Data Awaited
In July, the 12-month average of the CPI stood at 31.90 percent, and the August rent increase ceiling was applied at this level. The rate to be valid in September will become clear with the announcement of the August inflation figures.
Inflation Forecasts and Rate
Market economists' monthly inflation expectation for August is concentrated at an average of 1.95 percent. If the forecasts materialize, the September rent increase rate is projected to be close to the 31 percent threshold.
The Turkish Statistical Institute will announce the August inflation data on Thursday, September 3 at 10:00 AM. The announced data will determine the highest legal rent increase limit that can be applied in residences and workplaces throughout September.