Will Rent Prices Be Adjusted?

Murat Kurum, Minister of Environment, Urbanization and Climate Change, made a statement regarding the increasing rent prices. The institution said, "We will complete the work that will bring the rent prices under a regulation within a week and 10 days and share it with our nation."

Will Rent Prices Be Adjusted? Increasing global inflation due to geopolitical problems became more noticeable in Turkey, which insisted on the decision to cut interest rates. Especially in recent months, the rents, which have reached astronomical prices, have garnered public reaction. Making a statement on the subject, Environment, Urbanization and Climate Change Minister Murat Kurum said that no one will be victimized. Answering the questions of journalists after the groundbreaking ceremony of the urban transformation project in Güngören Gençosman Mahallesi, the Institution said, "We will complete the work that will bring the rent prices under a regulation within a week and 10 days and share it with our nation." Stating that they closely followed the price increases in housing and rents with the Covid-19 epidemic process, the Institution stated that they carried out a joint work with the Ministry of Justice, the Ministry of Treasury and Finance and the Ministry of Commerce, upon the instruction of President Erdoğan.

Rent Increase Rate Cannot Exceed Inflation

Stating that the rate of increase in rents cannot exceed the inflation in accordance with the legislation, the Institution said:

"We are working on both the follow-up of the rent increases and their prices. Our President will share the arrangements to be made with our nation in the near future. The legislation says that the rate of rent increase cannot exceed the inflation rate. The current rental prices are 1 in 20 in residences and 15' in commercial units. We are carrying out a sensitive work on this issue. We will complete the work that will regulate rent prices within a week and 10 days and share it with our nation."

Penal Sanction Will Be Applied

Answering the question about the criminal sanctions to be applied regarding the exorbitant rent increases and the reduction of the rent fees again, the Authority stated that they will not allow opportunism. The institution continued its statements with the following words:

"We did not allow opportunism or hoarding, and we will not do so in the future. Here, we see an opportunity and there is an increase above the rent increase rate. Our relevant ministries are already following the legal process regarding this. We will work on them in the regulation. We will make an arrangement that will not make neither the landlord nor the tenant suffer. We will never allow opportunism. The work will be completed as soon as possible. We also follow the exorbitant increases one-on-one. Our inspections regarding those who make these increases and house prices continue. May our citizens be well-rested. We will also continue to build social housing."