Rent Increase Rate for June 2016 Has Become Clear

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For rentings which started last year and being renewed this year, property owner has a right to increase the rental.

By tenentry law, price rise can not be higher than PPI (producer price index) rates. This rule is valid only for residences so desired price rise can be made for office rentals by the end of 2020.

For rent increase rate calculations in marking up process, yearly averages from PPI rates are used as basis. These rates are announced by Turkish Statistical Institute every year.

The rates that will be used for marking up in June 2016 period, have been announced. Based on this information, rent increase rate is 5,19 %.

For instance;

Rental: 1000 TL

Rent increase rate: 5,19 %

Price rise: 51,90 TL

New rental: 1.051,90 TL

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