Property

Rent hike cap to be extended: Minister

A 25 percent cap on rent hike that will expire in July will be extended, Environment, Urbanization and Climate Change Minister Murat Kurum has announced.

"The regulation will be in place until July, but we will extend it. We will protect our citizens against hikes against the above-average increases," Kurum said, adding that the market will stabilize when home supply meets demand.

State to tap frozen assets

The state will utilize seized movable and immovable assets that come from criminal activities, per a bill by the Ministry of Finance that was submitted to Parliament, so that boats, yachts, ships, helicopters and ultra-luxury cars can go under the hammer.

Landlords, tenants end up in courts over rent hikes

More and more landlords and tenants engage in legal battles to settle disputes over rent hikes, keeping the country's courts busy.

Rent prices and huge rent hikes demanded by landlords have been some of the hotly debated issues over the past months, which prompted the government to introduce a regulation restricting rent increases to 25 percent.

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