President Recep Tayyip Erdoğan, in his speech at the Urban Transformation Projects Turnkey and Groundbreaking Ceremony held in Gaziosmanpaşa Square, announced that they have increased the amount of rental assistance in Istanbul from 3 thousand 500 lira to 5 thousand 250 lira.
Erdoğan said that they have implemented the "Half of Us in Urban Transformation" campaign.
Accordingly, those who want to transform their houses on the basis of parcels will be provided with the opportunity to use a loan of 1 million 250 thousand liras with an interest rate of 0.74 percent.
The state will cover half of the cost of the houses they live in, whether they are in place or in the reserve area, for those who have their houses determined to be risky.
For example, if a citizen who wants to rebuild a 100 square meter house with 2 rooms and 1 living room incurs a cost of 1.5 million liras, the state will give 750 thousand liras as a grant. Thus, citizens will be able to renovate their homes with the remaining 750 thousand liras. The part to be covered by the state will increase to 900 thousand liras, which corresponds to half of 1 million 800 thousand liras, for 3 rooms and 1 living room with a size of 120 square meters.
Term loan facility
Credit facility will also be provided to citizens. It will be able to use a 10-year loan with 0.79 percent interest or pay its debts with 10 percent cash and 10 years maturity, with figures that will not exceed the lower of the PPI/WPI civil servant salary increase rates.
Industry representatives evaluated the campaign
Evaluating the good news on the subject, sector representatives stated that the campaign will accelerate the transformation and will provide great convenience especially to the citizens who want to renew their own housing.
İNDER: Pioneer of the needed transformation move
Istanbul Builders' Association (INDER) Chairman of the Board of Directors Nazmi Durbakalım said that the state's support to the real estate and construction sector in recent months was pleasing.
Stating that the private sector will also play an important role in this holy cause in Turkey, where there are approximately 6.7 million risky residences, Durbakalım said:
"The steps taken regarding urban transformation will undoubtedly accelerate the urban transformation on an individual scale. I would like to underline that this new campaign announced by our President will be the pioneer of the needed urban transformation move."
DEGUDER: Very valuable steps
Earthquake Strengthening Association (DEGUDER) President Sinan Türkkan also reminded that the monthly rental assistance has increased to 3 thousand 500 liras recently, and said that a revision of this figure will give some relief to the citizens, although it is not yet at the desired level.
Türkkan stated that providing low-interest loans to those who want to transform their houses on a parcel basis, and donating half of the amount needed for the conversion to those who identify their building as risky, are very valuable steps, and said:
"Another issue worth noting here is empowerment. It will be very valuable to take similar steps in empowerment with this transformation move. With the right mathematical and scientific results, empowerment and transformation should be constructed simultaneously and simultaneously. In this context, we are working closely with the Ministry of Environment, Urbanization and Climate Change. We are ready. With the right retrofit information to the residents whose buildings are inspected, we can make buildings earthquake resistant much faster."
Helmann: Gospels will accelerate urban transformation a lot
Helmann Chairman of the Board Selman Özgün stated that the recent steps taken in urban transformation are very valuable and said, "We think that these gospels, which directly concern the citizens and offer them great convenience in transforming their own residences, will accelerate the urban transformation." said.
Özgün said that extending the duration of the campaign would increase its effectiveness, and that it should be spread over at least one year in the first place.
Noting that there are 6-7 million risky buildings across the country, Özgün said that there are those that need to be transformed very urgently, and that appropriate steps have been taken to transform these structures very quickly.
Sinpaş REIT: Loan rate "very attractive"
Mahmut Sefa Çelik, Member of the Board of Directors of Sinpaş GYO, gave information about the incentives announced and stated that they would contribute significantly to the process in terms of speed. Evaluating the advantageous loan rate provided by the government as "very attractive", Çelik said:
"We see this loan as a great advantage for our citizens who want to renovate their own houses within the scope of urban transformation. The construction sector and the stakeholders of the sector will play a serious role in urban transformation with the support of our state. As Sinpaş, we are an institution that has signed the biggest projects of Turkey so far. Ten thousands of houses were transformed with the support of our public institutions, municipalities and ministry.
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