Since the rent increase rates are determined according to the CPI annual average, former tenants have so far been comparatively less affected by the extreme level of rents.
While the rent increase rate for new tenants reached 123.5 percent in March according to BETAM data, the rent increase rate in March was 29.88 percent according to TURKSTAT’s CPI average.
Gamze Bal from Sozcu According to the news; Ex-tenants are also expected to pay higher rents, although inflation will fall or rise thereafter.
This would increase the number of complaints from tenants who were in court with the landlord, who recently wanted to rent his house at higher prices.
“Rent increase rate will exceed 60 percent”
According to data from Turkish Statistical Institute (TUIK), the consumer price index (CPI) was 61.14 percent annually in March 2022; However, since the rent increase rate was calculated using the 12-month CPI average, the rent increase rate remained at 29.88 percent in April.
The CPI is expected to hit a new record hitting 68 percent in April, and the rental growth rate is expected to reach 50 percent in the coming months.
Real estate appraiser Celal Erdoğdu said: “Even if inflation continues at this level, the rent increase will increase by 34 percent next month and 43 percent next month, approaching the official inflation rate of 61 percent. This will close the gap between the CPI and the rent increase,” he said.
Erdoğdu pointed out that the increase in rental prices will converge with the increase in housing prices, saying “the situation is becoming more difficult for tenants”.
“EVEN IF INFLATION IS LOWER, THE INCREASED RATE WILL REMAIN HIGH”
Real estate appraiser Ahmet Büyükduman, on the other hand, drew attention to another issue that will arise in the next year, apart from concerns about closing the gap between the CPI and the rental growth rate in the coming months.
Büyükduman pointed out that the 29 percent increase in rents with landlord inflation at 61 percent is a positive development for 6.5 million tenants. This time, tenants are exposed to high rent increases while inflation is falling.
6.5 MILLION OLD RENTERS OUT OF 8 MILLION RENTERS
On the other hand, according to Büyükduman, there are about 8 million renters in Turkey. About 6.5 million of these are former renters.
The rates of increase that directly affect former tenants are as follows:
While CPI rose 16.19 percent annually in March 2021, that rate gradually increased to 21.31 percent in November 2021 and 36.08 percent in December 2021. By 2022, CPI, which rose 48, in the first month of the year, 69 percent, in February by 54.44 percent and in March by 61.14 percent.
While the rent increase rate was still 12.81 percent in March 2021, it was already 29.88 percent in March 2022.
STRONG INCREASE IN RENTAL PRICES CONTINUES
On the other hand, according to BETAM data, in March 2022, the average price per square meter for rental housing advertisements across the country increased by 123.5 percent annually, and the average price per square meter for rental housing advertisements rose to 37.7 TL.
While the annual rent increase rate was 82.8 percent in İzmir and 116.1 percent in Ankara, it was 126.5 percent in Istanbul.
According to BETAM data, the province with the highest annual rent increase was Antalya at 166.6 percent, followed by Istanbul at 126.5 percent, Mersin at 117.5 percent, Ankara at 116.1 percent and Kocaeli at 100.3 percent.
THE COURTS ARE FULL OF HOSTS
These rent increases have also disturbed landlord-tenant peace in recent times.
According to Turhan Çakar, president of the Consumer Rights Association, the proportion of rent assessment and rent eviction cases before the magistrates’ and enforcement courts has increased from 10 percent to 20 percent of the total number of cases in the last year.
It also notes that rent assessment and eviction actions have risen to the forefront of general actions.
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