Ankara: The Turkish government is preparing to impose stricter regulations on Airbnb-style short-term rentals as it seeks to address the issue of rising rents.
Under a bill submitted to Turkish Parliament by the governing AK Party, landlords would be required to obtain permits from the Ministry of Culture and Tourism for short-term rentals. Homeowners will be subject to taxes, required to display a sign in front of the building, and pay a fee.
The move comes at a time when Turkey is grappling with steep rises in both home prices and rents. The increases have been influenced by a widespread surge in consumer inflation, triggered by the central bank’s rate cut cycle under its previous management in 2021 and 2022.
The country also witnessed a surge in legal disputes between landlords and tenants, primarily driven by the government’s imposition of a 25 per cent annual cap on rental price increases, despite the backdrop of soaring inflation that is running above 60 per cent in annual terms.
To circumvent costly and protracted legal battles, homeowners are increasingly turning to daily or short-term rentals via platforms such as Airbnb.
The bill, seen by Bloomberg, categorizes rentals with durations of less than 100 days as “tourism-oriented.”
The draft legislation also stipulates that landlords and real estate agents found in violation of these new requirements will face a penalty of 100,000 Turkish liras ($3,600) per housing unit.