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67.9 percent of Turks struggling to pay their rent: poll

Economy Politics

67.9 percent of Turks struggling to pay their rent: poll

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More than two-thirds of people in Turkey are struggling to pay their rent as high inflation has caused a surge in housing prices, the Cumhuriyet daily reported on Tuesday, citing the results of a poll conducted by the AKSOY research firm.

In the recently conducted poll, participants were asked if they had difficulty paying their rent.

According to the poll results, 47.5 percent of participants said they’re having a “very hard time” paying their rent, with 20.4 percent saying they’re having a “hard time.”

Only 7.1 percent of respondents said they have no difficulty paying their rent. This rate is 14.7 percent among the voters of the ruling Justice and Development Party (AKP), significantly higher than the national average.

In June the Turkish parliament voted to adopt a temporary amendment to existing legislation to protect tenants by limiting rent increases amid soaring inflation rates in the country.

According to the new regulation, rent price hikes will be limited to 25 per cent until July 2023.

Over the past several years Turkey has been suffering from a deteriorating economy, with high inflation and unemployment as well as a poor human rights record. President Recep Tayyip Erdoğan is criticized for mishandling the economy, emptying the state’s coffers and establishing one-man rule in the country where dissent is suppressed and opponents are jailed on politically motivated charges.

A staggeringly high cost of living has become the new normal in Turkey, where recent increases in food and utility prices are pushing up inflation, further crippling the purchasing power of citizens.

According to official data, consumer prices accelerated to an annual rate of 78.6 percent in June, up from 73.5 percent in May.

An increasing number of Turks have complained on social media about rising electricity bills and falling into debt. Many have said even basic foods such as vegetables have become a luxury as prices have risen by nearly 400 percent.

Source: Turkish Minute

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