Ways to Lower Housing Rents

The Central Bank’s Recommendations to Address High Rental Prices

The Central Bank has put forward a series of recommendations to tackle the issue of high house rents. In its Inflation Report, the bank listed solutions such as social housing, shared tenancy, corporate leasing, and taxation.

Real Estate Expert Sühran Aras highlighted the possibility of implementing an empty house tax, which is currently being considered. He explained that the Land Registry Cadastre is conducting a study to enable tenants and landlords to make contracts via e-government. This initiative aims to create an inventory of the region and prevent tax losses.

The soaring rental prices, particularly in metropolitan areas, have put citizens in a difficult situation, making it challenging to find affordable housing. The Central Bank’s suggestions aim to address these rental problems by introducing measures to increase supply.

One of the proposed measures is to allocate some of the mass housing built on public lands exclusively for rental purposes instead of for sale. This, the bank believes, will significantly contribute to increasing the supply of rental housing.

Furthermore, the Central Bank emphasized the importance of maintaining a balanced supply in the housing market. It also highlighted the need to encourage corporate leasing and engage private companies in this business by making them shareholders.

Additionally, the Central Bank drew attention to the issue of rent increases, pointing out that the compliance rate with the 25 percent rent increase limit is low.

The recommendations put forth by the Central Bank aim to address the pressing issue of high rental prices and bring stability to the housing market. With a focus on increasing supply, implementing corporate leasing, and addressing rent increase limits, these measures could potentially alleviate the burden of high rents for citizens.

 

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