Local Turkey

Rents will be raised by 11.74% according to the October inflation data

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

Raise: ₺117

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

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button