Due to economic sanctions and the ongoing war, the Syrian lira is in free fall.  In view of this fact, the Autonomous Administration has decided to impose rent increase cap. The decision was taken on Sunday by the Executive Council of the Jazira canton for the region and applies to all newly concluded rental contracts.

Landlords who do not stick to the new rates will face a fine. New rental contracts must be confirmed by the Autonomous Administration. The municipalities were called upon to record and document rental prices.

The new rent prices are as follows:

10,000 - 50,000 Syrian Liras (SYP) for an unfurnished house (between 16 and 80 euros)

50,000 - 75,000 Syrian Liras for a larger, furnished house with kitchen (between 80 and 120 euros)

75,000 - 100,000 Syrian Liras for houses ready to move in (120-160 euros)

100,000 - 150,000 Syrian Liras for "luxury apartments" (160-240 euros).

The decision to cap rents was taken due to the massive inflation of the Syrian lira, according to RIC information center. Inflation had pushed rents of unfurnished houses up to 300,000 - 650,000 Syrian Liras (320 to 720 euros).