TERMINATION OF RENT INCREASE LIMITATION FOR RESIDENTIAL RENTS

We refer to our Newsletter dated 22 June 2023 whereby we had informed you that the temporary provision in Turkish Code of Obligations that limits the rent increase in residential lease contracts with 25% maximum was extended until 1 July 2024 (included).

Since no additional extension has been made, this limitation of 25% increase for residential leases has now ceased and as of 2 July 2024, the rent increases will again be determined as per the consumer price index meaning that the rent increase will be determined according to the twelve – month average inflation rate.

Our Law Firm remains at your disposal for any further clarifications you may need.

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