Setting upper limits on the rate of increase in housing rents
The upper limit on the rate of increase in house rents and a recent Turkish decision may have given the tenants a chance to catch their breath.
The decision on the maximum rate of increase in house rents
Turkish Justice Minister Bekir Bozdag announced today that “until July 1, 2023, the increase in lease contracts will not exceed 25% over the previous year.”
“No more than 25% can be applied to rent increases,” Kurt said in his post, as exorbitant increases point to serious problems, with these practices increasing lawsuits, and landlords resorting to different methods to evict tenants, leading to new crises. Above this number will not be valid.
With this decision, Justice Minister Bekir Bozdag announced that this arrangement will give the tenants a chance to breathe. “The possibility of increasing the residential lease contracts that will be renewed until July 1, 2023, will be raised in a way that does not exceed 25% of the previous year’s rent,” Bozdag said.
According to the procedures that have entered into force in the housing sector, citizens who wish to build their homes will be able to purchase treasury land, subject to the appropriate payment.
Treasury lands will also be sold to citizens at a low but long-term cost in a number of Turkish cities such as Istanbul, Ankara, Izmir, Bursa, Konya and Adana.
Citizens can build their homes on one or more plots of land, and the Turkish state will take over the project as well as the infrastructure of the house.
Also, work was intensified in Gülbaşı, Ankara, Tuzla, Çatalca and the Basaksehir district of Istanbul. As for the sale of the land, the Ministry of Environment, Urbanization and Climate Change, National Real Estate and Toki will also cooperate.
Read also about the future of the real estate market in Turkey 2023