Consumer Price Index for January 2023

According to Article 344 of the Turkish Code of Obligations, if no agreement is reached between the parties, the rent amount will be determined based on the twelve-month average of the consumer price index of the previous rental year, not exceeding the rate of change, and the rent increase rate for January 2023 is 72.45%.

As per Temporary Article 1 added to the Turkish Code of Obligations by Law No. 7409, a maximum limit of 25% has been set for rent increases for residences between June 11, 2022 and July 1, 2023. If the 12-month average CPI is lower than 25%, the upper limit will be determined based on the CPI, and if it is higher, an increase of up to 25% can be applied.

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