What is the price for renting a property in Turkey?
Rent in Euro And Dollar Period Ends in Turkey
Presidential Decree Released: Rent Period over with Dollar and Euro in Turkey
New regulations released about rent in Turkey.
All foreign currency contracts were canceled with the new Presidential Decree published in Turkey. Those who have contracted with Euro and Dollars in Turkey will be renewed.
With the flight of the dollar in Turkey, the shops in the shopping mall, which paid the rent with the dollar, became a victim. President Erdoğan took a new decision for this situation. The recent Presidential Decree published in Turkey canceled all foreign currency contracts. On the other hand, how that will be held in property and apartment rent in Turkey is still the question.
After that, residents of Turkey in trading securities and real estate, vehicle rental, and leasing, including all kinds of stakes and real estate leasing business, service, and work contracts not designated as indexed payment obligations denominated in foreign or foreign currency. The parties in TL will re-determine the agreed prices in foreign currency within 30 days.
On the other hand, some people think that the absence of a specific exchange rate would make no change in rental prices in Turkey.
The most important question of the store owners is: what Will the new rent rates be?
Now, rent increases in Turkey will be automatically in the WPI-CPI ratio. The current inflation rate is about 17 percent in Turkey.
We hope this regulation will not negatively affect the real estate market in Turkey.