New regulations coming for rental price increase in Turkey day by day

Rent prices, which are increasing day by day in Turkey, are putting pressure on citizens’ budgets. High inflation and rising construction costs driven by the dollar are limiting the supply of new homes. While rising costs and the resulting decrease in housing supply have increased the number of tenants, rents have reached high amounts due to the housing shortage.

It is reported that the government has started working against rental prices. According to news from the Sabah newspaper, known for its proximity to the government, three ministries are involved in the rise in rental prices. The government’s first option on the table will be the application of a price cap to intervene in the prices of rental accommodation on the open market.

MURAT THE INSTITUTION SAID “OUR PRESIDENT WILL SHARE”

The Minister of Environment, Urbanism and Climate Change, Murat Kurum, announced that they were working on the subject. Minister Kurum said, “We are monitoring housing price increases, rent price increases and citizen access. At this point we are working with our Department of Justice, Department of Treasury and Finance on the rent. In addition, we will carry out another project with our municipalities to allow our fellow citizens to buy housing on more favorable terms. I hope our president will soon share this with our nation,” he said.

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