Real Estate in Turkey Rental Rates for November 2017 | Página 2

contracts to be organized during this month for the first time, or those that are renewed during
this month.
As for the shops, the rental rates will be increased according to the percentage agreed upon in
the contract. In the absence of such an item within the contract, 14.47% will be applied is
calculated according to the producer price index and 10.37% If the calculation is based on the
CPI.
The following is a simple calculation to calculate the proportion of the increase on contracts
organized or extended within the month of November of 2017. For example, there is an
apartment rented for 1000 Turkish liras per month, it will be calculated as follows:
The current amount of rent before the increase: 1000 Turkish lira
Increase rate: 14.47
Addition percentage: TRY 144.7
The final amount of the rent required after the increase: 1144.7 Turkish lira