Rental increase rates for August 2021

The highly anticipated Consumer Price Index increased by 18.95 percent annually

Rental increase rates for August 2021

The Turkish Statistical Institute has published its rent increases rates today. This is an area that has generated a lot of interest with landlords and tenants alike. Tenants, whose lease agreement will be renewed in August 2021, are subject to an annual increase at certain rates. The increase, which is covered under the Code Of Obligations, is one which real estate owners make to the tenants once a year.   

Rent increase rates for August 2021 

The highly anticipated Consumer Price Index (CPI) increased by 18.95 percent annually and 1.80 percent monthly. The domestic producer price index (D-PPI) increased by 44.92 percent annually and 2.46 percent monthly. 

In the CPI (2003=100), which is also interesting, in July 2021, 1.80 percent compared to the previous month, and 10.41 percent compared to December of the previous year, 18.95 percent compared to the same month of the previous year and according to the twelve-month averages a 15.15 percent increase was seen. 

D-PPI (2003=100) In July 2021, 2.46% compared to the previous month, 25.05% compared to December of the previous year, 44.92% compared to the same month of the previous year and according to the twelve-month averages increased by 28.47. 

Calculation example 

Current rental price: 2,000 lira 
Increase rate: 15.15% 
Increase price: 303lira 
Increased rental price: 2,303 lira