Finance

Institution: 25 percent limit application will be extended in rent increase

The rent increase limit regulation will be extended.

Minister of Environment, Urbanization and Climate Change Murat Kurum, reminding that the regulation limiting the increase in housing rent is valid until the 7th month of 2023, he said that they will extend it after the 7th month, and that they will protect the citizens if there is an average above the market conditions.

Stating that this situation will be balanced when the supply is increased in line with the demand, the Institution drew attention to the role of TOKİ in this. The institution said, “We produce social housing in order to eliminate the earthquake risk and for the citizens to own housing. On the one hand, we actually balance the market. We also provide loans to those who will buy their first house with 250 thousand social housing. All of these are efforts to increase the supply.”

In the General Assembly of the Grand National Assembly of Turkey, the regulation regarding the housing rent increase not to exceed 25 percent of the price of the previous year was accepted in June 2022.

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