According to the October inflation data announced by Turkey Statistical Institute (TUIK), the 12-month Consumer Price Index (CPI) average was 11.74 percent. Thus, a maximum increase of 11.74% in rents will be made in November. The price increases according to the rent will be in the followings. With the announcement of the inflation figures, the rate of the raise to be made to the rents has been determined.
The rent increase calculations, which were previously made on the basis of the Producer Price Index (PPI), are calculated on the averages of the 12-month Consumer Price Index (CPI) since 2018.
Rent increase rate is determined as 11.74 percent
According to the data of TUIK, the CPI increased by 2.13 percent monthly and became 11.89 percent on an annual basis in October. Accordingly, the highest increase rate to be made to rents over CPI in November was determined as 11.74%.
Here is an example for raises to be implemented on rents:
Current rent: ₺1000
Raise share: 11.74 percent
New rent with a raise: ₺1117
Increase rates according to rents:
Current: ₺1100– With the raise: ₺1229
Current: ₺1200 – With the raise: ₺1340
Current: ₺1300 – With the raise: ₺1452
Current: ₺1400 – With the raise: ₺1564
Current: ₺1500 – With the raise: ₺1676
Current: ₺1600 – With the raise: ₺1787
Current: ₺1700 – With the raise: ₺1899
Current: ₺1800 – With the raise: ₺2011
Current: ₺1900 -With the raise: ₺2123
Current: ₺2000 – With the raise: ₺2234
source: Cumhuriyet.com / translated by Melisa Karayusufoglu