New Tenant Rent Index (YKKE)
The change in the rent level of newly leased homes. While the increase for existing tenants is capped by law (CPI), the YKKE reflects the current market rent level.
The full historical series extends back to January 2018 (101 records). Hover over the chart to see period values. Source: CBRT EVDS.
Difference Between the YKKE and the Legal Rent-Increase Cap
For existing lease agreements, the annual increase is capped by law at the previous 12-month CPI average. The YKKE, however, measures the market rent of newly leased homes; due to supply and demand it often rises faster than the legal cap. The gap between the two reflects the tenant-landlord dynamic.
Rent Increases and Inflation
Rents are an important component of housing inflation and carry a high weight in the CPI basket. Therefore a rapid rise in the rent index is one of the factors that also push up overall inflation.