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In December, the House of Representatives and Senate approved a law amendment that changes the maximum rent increase. As of January 1, 2023, the allowed annual rent increase in the free sector is set at 4.1%.
The rent increases will now be linked to wage increases instead of inflation, provided the wage increase is lower. The inflation rate from December 2021 to December 2022 was 9.7%, while the wage increase was 3.1%. Therefore, the allowed annual rent increase in the year 2023 will be a maximum of 4.1% (3.1 + 1 percentage point) in the free sector. If the proposed law had been rejected, the maximum rent increase would have been 10.7% (9.7 + 1 percentage point).