Following the extension of the 25 per cent increase in the rent increase rate, experts warn that landlords avoid renting out their houses due to the increase limit and even prefer to keep them empty.
Speaking to Milliyet on the subject, real estate expert Mustafa Hakan Özelmacıklı said that there are gaps in legal practices that protect the landlord, so the owners avoid renting their homes.
Özelmacıklı used the following statements:
"As far as we understand, the process maintains a little more uncertainty. However, if there is an extension, my opinion is that there will be an increase in the number of advertisements for sale for this reason.
We can say that the increase in the number of advertisements in the recent period is the increase in those who want to sell their old house due to the earthquake risk. However, this does not only mean an increase due to rent.
At this point, there are gaps in both practices and legal regulations in our country. People have become afraid of renting out their places. Such as if the tenant does not leave or does not pay the rent.
There is no mechanism to protect the owners. For this reason, I think that rental flats will be even more difficult to find due to these fears. The owner who wants to rent it out will not be found.
At the moment, we do not see an intense outflow in the real estate market. I can say that the outflows we see are mostly old buildings."
Minister of Justice Bekir Bozdağ announced that the duration of the 25 per cent increase limit in rent will be extended, Bozdağ also noted that studies are being carried out to impose sanctions on those who make exorbitant rent increases.