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Goverment Planning Cap on Rents

TURKEY
  • Bloomberg reports that the Turkish government are planning for a cap on residential rent hikes for a year, citing ministers.
  • This had been trailed in local media in recent weeks - from June 2nd:
  • "Hurriyet write that the Ministry of Justice have reached the final stages of preparation for regulation to combat “exorbitant” rent increases. Minister of Justice Bekir Bozdag stated that rent increases going forward will be determined by a fixed rate, rather than 12-month CPI as a temporary measure – and after the policy expires, traditional rent-setting will return. "

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