Real Estate

Rent increase rate after inflation has been determined: How is the November 2021 rent increase calculation done?

With the announcement of the October inflation data by TURKSTAT, the rent increase rate for November 2021 has also been determined. With the statement made by TUIK, inflation data determines many rates such as rent increase and pension increase. Here is the rent increase calculation after the highly anticipated October inflation rate.

October inflation figures have been announced. At the same time, the rate of increase in rent has also been determined. Accordingly, the rent increase, which was determined based on the twelve-month average of inflation figures, was 17.09% for November. So, how is the rent increase rate calculated?

After the Turkish Statistical Institute (TUIK) announced the inflation figures, the rent increase rate for November became clear. The rent increase rate, which was determined based on the twelve-month average of inflation (CPI) figures, was 17.09% for November.

NOVEMBER 2021 RENT INCREASE CALCULATION

  • Exemplary Housing Rent: ₺1.000
  • Rent Increase Rate: 17.09%
  • Rent Increase Amount for November: ₺170.9
  • Raised Rent Amount Including the Rent Increase Rate in November: ₺1,170.9

According to the figures announced, the rent increase to be paid by a tenant whose rent is ₺1000 in November was calculated as ₺170.9. Accordingly, the increased rent amount will be ₺1,170.9.

OCTOBER INFLATION RATE BELOW EXPECTATIONS

Turkish Statistical Institute (TUIK) announced the inflation rate (CPI) for October. Accordingly, the inflation rate was 2.39% on a monthly basis and 19.89% on an annual basis, below expectations. The expectation was that inflation would be 2.61% on a monthly basis and 20.18% on an annual basis.

Source: Sabah / Translated by Irem Yildiz

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