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The Cap on Rental Increase Rates for Residential Leases Has Been Extended Until July 2024
As known, an amendment promulgated on 11 June 2022 temporarily capped the rental increase rates at 25% for residential leases for a 1-year period. The period introduced by the amendment was set to expire on July 2023 and there was uncertainty as to whether the implementation of the cap on rental increase rates would continue.
For full copy of the alert, please click here.