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Renting out Turkish property will become more profitable. The cap on rent increases is cancelled

  • 31.05.2024
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Renting out Turkish property will become more profitable. The cap on rent increases is cancelled

Finance Minister Mehmet Şimşek says that on 1 July, Turkey will lift its restrictions on rent increases. Landlords could only increase rents by 25% a year. The landlords didn't like the restrictions because they didn't take inflation into account. The Minister of Finance said that there is no need to extend the restrictions because the country is stabilising and tax growth is not expected this year.

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