After the government decided to extend the 25% limit to the rise in housing rental prices – while inflation at the end of 2022 reached around 85% – imposed until July 2024, and even threatening with heavy fines and jail sentences to those who raise rents exorbitantly, many property owners are choosing to leave their homes empty or directly switch to tourist rentals to avoid that price limit.
The limit to the rise in rent prices, which has been welcomed by tenants, is however causing the offer of tourist rentals for days or weeks to skyrocket, at the same time that the offer of long-term rental apartments falls, since owners now see it as unprofitable. According to professionals in the sector, who call for greater controls in the tourist rental market (where they say that 90% of rentals are made without a contract), it is estimated that in the last two years the offer of tourist rentals has increased by 50% throughout Turkey; whereas before this type of rental was only found in tourist destinations, now rentals for days, weeks or months can be found throughout the country.
VOTE
EDITORIAL TEAM
🧿 About us
.
Edited and reviewed by:
Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
…
📣 Your ADVERTISING on Hispanatolia
.
🤗 HELP US WITH A DONATION:
💗 Paypal
