The temporary regulation, announced by the Minister of Justice on 08.06.2022, which limits the rent increase in residential lease agreements to 25%, was approved by the General Assembly of the Turkish Grand National Assembly on 08.06.2022.
In this respect, although it has not yet been published in the Official Gazette, the following provisional article is expected to be stipulated in the Turkish Code of Obligations No. 6098:
"In terms of residential rents, agreements regarding the rent to be applied in renewed rental periods between the date of entry into force of this article and 01.07.2023 (including this date) are valid, provided that it does not exceed 25 percent of the rent of the previous rental year. If change rate in the consumer price index of the previous rental year is less than 25 percent compared to the twelve-month averages, the relevant CPI rate will be applied. This rule also applies to lease agreements for more than one year. Residential lease agreements which exceed such limitation are invalid in terms of the excess amount. The provision of this paragraph shall also be applied for the decisions to be made by the judge pursuant to the second paragraph of Article 344.”
With the above-mentioned temporary regulation, it is stated that the rent increases to be applied between the date of entry into force of the regulation and 01.07.2023, will be limited to 25 percent only in residential rents.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.