Turkey To Build 15,000 Rental Homes In Istanbul

Turkish authorities have completed and delivered over 455,000 homes and workplaces to eligible owners following the Kahramanmaraş earthquakes on February 6. The opposition CHP has been criticized for failing to fulfill promises made to citizens in İzmir. This construction effort follows previous disaster responses in Van, Elazığ, İzmir, forest fires, and West Black Sea floods. The project will begin in Istanbul with deliveries starting in August. Homes will be located in both European and Anatolian sides of the city, including central and outskirts areas. The initiative aims to control rental prices and provide social housing. The project aims to address earthquake preparedness in the Marmara region. Rental rates for these units will be set at 1-1, 2-1, and 3-1 ratios relative to market prices, which is described as half the market rate. While the initial phase focuses on Istanbul, future expansion to other provinces may be considered. The first 2,000 units are scheduled for delivery in August, three months from now. The project aims to accelerate urban transformation and suppress rising rent increases. The process for further developments in other parts of Anatolia is expected to continue.