In remarks made yesterday (January 9), Turkish Finance Minister Mehmet Şimşek identified Turkey’s soaring rent prices as the biggest factor behind the country’s high cost of living. Şimşek had previously refused to extend a 25% limit on rent increases in mid-2024.

Şimşek’s Monday remarks were made at a yearly meeting of MÜSİAD, a non-governmental organization representing businessmen and industrialists in Turkey.

Regarding addressing Turkey’s soaring rents, the Finance Minister said:

“Rents are the biggest factor in the high cost of living. We can solve this problem by increasing the supply of housing.”

In May 2024, Şimşek had announced that he would not extend a 25% limit on rent increases in Turkey, saying that such a measure was........

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