Türkiye soars to top of global rent increase list with 66% surge
Türkiye tops the OECD in rent hikes with a 66% increase, surpassing 37 other countries. (AA Photo)
Türkiye ranked first among 38 countries in terms of rent increase.
Türkiye, which is struggling to cope with the economic crisis, has left many countries behind in rent increases.
The elimination of the 25% cap on rent increases has intensified tensions between landlords and tenants.
Türkiye now leads the OECD member countries in terms of rent hikes.
According to the OECD, the Housing Rent Price Index in Türkiye stands at 663.
Recent data on the annual changes in the Housing Rent Price Index for OECD countries has been released.
The report placed Türkiye at the top for the highest increase in this index.
Hungary follows with a score of 181, and Lithuania comes next with 172 points.
Japan, in contrast, is at the lowest end with a score of 100.
Rent increase rate hits 66%
Meanwhile, The Turkish Statistical Institute, TurkStat, recently released inflation figures for July.
TurkStat reported that the Consumer Price Index (CPI) rose by 3.23% in July compared to the previous month, with annual inflation decreasing to 61.78%.
The 12-month average inflation rate, which sets the ceiling for rent increases, has been reported at 65.93%.
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