No. Increases are capped by the RERA rental index (Decree 43 of 2013): if your rent is within 10% of the market average, no rise is allowed, scaling up to a maximum 20% only when you are far below market. Landlords must give 90 days' written notice. In downturns, rents can and do fall.
Figures here are indicative as of July 2026 and set by third parties (government, banks, developers) — confirm the current amount before relying on it.