Rent increase cap application continues in residences
Justice Minister Yılmaz Tunç announced that the upper limit of the rent increase rate for housing rents will be 25 percent for one year from July 2, 2023 to July 2, 2024. Justice Minister Yılmaz Tunç made statements to AA regarding the application regarding the rental regulation and real estate sales contracts to be made at notary publics. Reminding that the regulation that brought a 25 percent increase limit for rents was made last year and has a one-year period, Minister Tunç stated that this period will expire as of July 1. Expressing that a new decision should be made in line with the demands regarding the rent regulation and that President Recep Tayyip Erdoğan also announced this regulation at his party's TBMM Group Meeting yesterday, Tunç said, "July 1 was included in last year's period. From July 2, 2023 to July 2, 2024, a 25 percent upper limit of rent increase will be applied for one year in housing rents." Noting that they have completed the technical work on the rent regulation as the Ministry of Justice, Tunç said that the regulation will be on the agenda of the Turkish Grand National Assembly. Minister Tunç announced that this issue will be one of the first things the Assembly will do after the holiday and that the regulation will become law with the omnibus bill to be presented. Tunç, who stated that some complaints have been received from citizens regarding exorbitant rents and that it is not possible to remain indifferent to them, explained that the Ministry of Trade has taken some measures regarding exorbitant prices. Yılmaz Tunç reminded that penal regulations regarding exorbitant prices have been made before. Minister of Justice Tunç, who stated that mediation in rent disputes will become a condition for filing a lawsuit as of September, stated that these disputes will be resolved peacefully without going to court. Minister Tunç expressed that they do not want the disputes between the landlord and the tenant to deepen. "Real estate sales will also be carried out on weekends" Making statements regarding the practice of making real estate sales contracts at notary offices, Tunç reminded that a legal regulation has been made on this issue. Tunç, who stated that the new application will reduce the intensity at the land registry offices and enable citizens to complete their transactions in a shorter and faster time, continued as follows: "As of July 4, real estate and property sales will be possible at our notaries. This is important. Our notaries are also open on weekends with the on-call notary application. Therefore, while real estate sales could only be made at the land registry offices during the week, now that this opportunity has been brought to notaries, real estate sales will be made on weekends as well."