Rental social housing era begins in Istanbul
Announcing the details of the rental social housing program to be implemented in Istanbul, President Erdoğan announced that 15,000 housing units will be available for rent in September, that beneficiaries will be determined by a lottery in the presence of a notary, and that rents will be below market rates. Erdoğan also announced a total target of 100,000 social housing units in the city.
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AKP Chairman and President Recep Tayyip Erdoğan made statements regarding the rental social housing project to be implemented for the first time in Istanbul during his speech at his party's Istanbul Provincial Advisory Council meeting held at the Haliç Congress Center. Within this scope, 15,000 social housing units will be rented out in the first phase of the system, which will be launched under the organization of TOKİ.
"WE ARE TAKING THE FIRST STEP IN ISTANBUL WITH 15 THOUSAND RENTAL SOCIAL HOUSING UNITS"
Erdoğan stated, "We are taking the first step of our rental social housing practice in Istanbul with 15,000 rental social housing units, saying 'bismillah'. We are starting to rent out our housing units in September. We will collect applications and determine the beneficiaries in a fair and transparent manner through a lottery in the presence of a notary. Most importantly, these housing units will be rented below the market value in the region where they are located. Our rental contracts will be for three years. After three years, the evacuation and maintenance processes of the houses will be completed, and these units will be transferred to new beneficiaries determined by lottery. Thus, we will provide relief to tens of thousands of our low-income families within this circulation. I wish this to be auspicious for my fellow citizens in Istanbul in advance."
TOTAL TARGET OF 100 THOUSAND SOCIAL HOUSING UNITS IN ISTANBUL
Furthermore, stating that a total of 100,000 social housing units will be implemented in Istanbul with the "Homeowner Turkey" project, Erdoğan emphasized that this project aims to alleviate the city's housing needs.
NEW LIMITS ANNOUNCED FOR TRADESMEN LOANS
Announcing new loan limits for tradesmen and artisans, Erdoğan said, "Another piece of good news is that we are increasing the limit of treasury-supported operating loans provided to our tradesmen and artisans from 1 million liras to 1.5 million liras." Erdoğan also noted that the upper limits for investment loans provided for the purchase of workplaces, vehicles, and machinery equipment have been increased from 2.5 million liras to 3.5 million liras.