Imtilak Properties

The Statistics Agency announced an increase in rental income for the rented apartments during May to tenants who signed leases in May of last year or previous years, and the rate of increase was determined.

The Turkish Statistical Institute announced this increase percentage by calculating the internal product price index for the month of April 2017, and found that the percentage in the index reached %7.19, and was consequently based on a result centered around the highest rate applicable to the rents by homeowners which are estimated at 8.01 percent higher.

For example, the rate of increase in monthly rent can be calculated in an apartment as follows:

In case the rent for the apartment is 1000 TL.

An increase in monthly rent will be applied to the amount of %8.01.

The rate of increase will be based on the calculation according to the amount of the rent, which is 80.1 Turkish lira.

The total payable amount for this rented apartment will be TL 1,080.1.