a
Print
version

Turkey Has Radical Solutions for Housing Rehabilitation After the Earthquake

  • 12
The government starts the largest housing construction project in the country's history. They plan to reduce taxes and subsidize developers.

Turkish Minister of Environment, Urbanization, and Climate Change Murat Kurum said that the authorities are going to launch the largest housing construction project in the country's history in 10 provinces simultaneously.

Context. That is necessary to solve the problem of emergency housing after an earthquake. According to experts, 12,141 apartment buildings and 66,058 private houses were destroyed or severely damaged.

Other measures. Meanwhile, Mehmet Kalencu, president of Turkey's largest real estate investment fund GYODER, offers the government:

  • Reduce the tax on the transfer of ownership from 4% to 1%;
  • Allocate developers free land for building;
  • Finance construction through PPP (public-private partnership);
  • Oblige developers on the above conditions not to sell real estate to private buyers, but to lease it to residents of Turkey.

Source: Emlak Kulisi
Photo by Michael Parulava on Unsplash

Quoting conditions of Prian.info materials

Share the link:
Tags: Turkey, Market Analysis, Real Estate, New buildings and construction

Read also

Understanding Turkey's New Short-Term Rental Law: A Comprehensive Guide for Investors
Turkey has adopted a new law that will affect most private investors who purchased apartments on...
How to organize business on real estate in Alanya: confirmed strategies from a Turkish developer
The eхperience of the Turkish company Home Real Estate & Investments is really fascinating. Since...
Turkey's Economy Showed Growth in 2022
The latest data was published by the Turkish Statistical Institute.
Earthquake in Turkey Emptied the Tenants
The chairman of the Chamber of Real Estate Agents in Ankara said that rental prices jumped by...
Deloitte has presented the latest overview of European residential property markets
The experts have named the most expensive and the most affordable countries and locations.
The rental prices for luxury housing in some districts of Istanbul are growing out of control
It is getting increasingly difficult to find affordable housing for people with low and medium...

Interesting to read

News and articles on the topic «Turkey»

Understanding Turkey's New Short-Term Rental Law: A Comprehensive Guide for Investors

Turkey has adopted a new law that will affect most private investors who purchased apartments on...

  • 28.02.2024
  • 102

Global real estate market news: January 2024

Our pilot news-block on Prian.info

  • 30.01.2024
  • 29