Real Estate

March 2022 housing rent increase rate has been revealed: Highest figure in the CPI

How much will the residential rent increase to be implemented in March 2022? They will increase the rents of the houses. In November, the increased rates of increase in the rents have been announced. Accordingly, the rent increase rate figures in March reached the highest figure in the CPI!

The increased rates to be made to residential rents for tenants and landlords, and the increases to be made to rents in March have been announced. The highest rent increase rates of the year continue to come without a breath. In February, the rate of increase in rents applied to workplaces and residences was the highest. The data for March was eagerly awaited. TURKSTAT has just announced the figures regarding the rent increases to be applied in workplaces and residences. Rent increase rate in March reached 2022 and the highest level of the years we left behind! A record rent increase for 2022 has been announced. So, how much will the increase rate to be applied to rents in March 2022? How much will the increased rate, which will be valid in March and will be valid until March 2023, be reflected on the rents? Is it clear what the rent increase rate was in March? Here are the increased rates and inflation data to be applied to rents for houses in March…

A difficult process continues due to the rent increase rates in Turkey. There are unpleasant days between landlords and tenants. Landlords with high rent expectations, instead of applying the official figures announced by TUIK, demand an increase in rent in accordance with the market conditions and the rents of the newly given houses, triggering the problems. On the other hand, the month of March started with war. High inflation data, the Russia-Ukraine war, the burdens of the war have already begun to be felt in our bones. In every field, the numbers are processed like a rain of hikes. High rent increases across Turkey, especially in Istanbul, have divided landlords and tenants. Due to the problems experienced, there is an increase in rental cases in the courts. The latest rent increase figures have been recorded as the highest in 2022 so far.

It has become a serious problem for tenants due to the exorbitant increases in housing rents, the decrease in access to housing with high costs, the decrease in the construction of new housing, the increase in the number of foreigners, and the multiplier effect of house rents according to foreign demands. Landlords and tenants seeking high rent increases are negotiating to find a middle ground. On the other hand, the 12-month hike rate to be applied to rents during the new month of March has been determined. With the announcement of the highest inflation data of 2022 in February, the highest rent increase of the year so far will be reflected in the contracts. The rent increase rates are followed with interest, which figures will be reflected in March 2022. With the announcement of the October inflation figures, TURKSTAT shared the CPI February inflation figures for the calculation of the rent increase rate, which will be written on the lease contracts in March and will be valid for 12 months. The increased rates to be applied to tenants who will renew their lease in March 2022 have been determined.

As of today, a critical day and a critical month for millions of landlords and tenants begins as of today, and the latest data is the kind of rebellion. Landlords waiting to make a rent increase will start to apply the increased rent increase rates to their tenants, which will be valid from today until March 2023. The rent increase for the houses was determined by the inflation figures announced today throughout November. Rental contracts will start to be filled for 1 year as of this month, with the rent increase calculation to be applied by the landlords with the CPI announced by TURKSTAT for February.

HOUSE OWNERS WANT MORE

It seems that the property owners, whose eyes are wide open due to the high rates in recent months and the problem of lack of rental flats, will continue to show their greed by hearing about the houses with higher rents next to them. Especially in 2022, it seems that the very high hikes will continue to affect the citizens greatly. As such, the former tenant has a hard time accepting this situation and the tenant is struggling to vacate the house and find a new living space. However, it is not possible to find a house at a more affordable price at the moment. For this reason, agreements are made at the request of the landlord or with a reasonable amount. Landlords and tenants who do not agree, end up in court. This situation seems to increase gradually.

WHAT WAS THE HOUSING RENT INCREASE RATE FOR FEBRUARY?

By what percentage was the increase in rents realized in February that we left behind? In February, the highest rate of increase in rents occurred, the CPI was quite high. The rent increase rate in February 2022 saw a record level of 22.58% for residences across Turkey, making the landlords extremely happy.

WHAT’S THE HOUSING RENT INCREASE RATE FOR MARCH?

February inflation figures announced by TURKSTAT and CPI figures have just been announced. The housing rent increase rate for March, which will be calculated with a 12-month average, was announced by TURKSTAT at 10:0.

Consumer price index (CPI) increased by 54.44% annually and 4.81% monthly. an increase of 54.44% compared to the same month of the previous year and 25.98% according to the twelve-month averages.

Source: Emlakpencerem / Translated by Irem Yildiz

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