Minister of Environment, Urbanization and Climate Change Murat Kurum, speaking at the June general assembly meeting of the Istanbul Chamber of Industry (İSO), announced that a new social housing project will be launched in 81 provinces by the end of the year. He also noted that separate rental social housing projects will be implemented in Istanbul, on both the European and Anatolian sides, aiming to contribute to urban transformation and to balance the increases in real estate rents.
GYODER: "Encouraging rental housing production is crucial"
Neşecan Çekici, President of the Real Estate Investors Association (GYODER), emphasized that the government’s initiative to promote social rental housing is a very appropriate step, pointing out that the proportion of tenants in Türkiye has increased from 21% to 28% in the last 15 years.
"Access to housing is becoming increasingly difficult, and costs are rising," said Çekici. “That’s why promoting social rental housing is valuable. In our sector, housing and urban transformation are the top priorities. Türkiye needs to build 800,000–900,000 housing units per year, but currently, only 500,000–600,000 units are being produced, which is insufficient.”
Highlighting the earthquake risk in Istanbul, Çekici said that a comprehensive and integrated housing policy must urgently be placed high on the national agenda. “Public, private sectors, NGOs, and academia should come together at one table, develop new solutions with common sense, and create integrated, permanent, and sustainable policies,” she added.
She also explained GYODER’s New Housing Model, which aims to “cut rental prices in half and pave the way for urban transformation,” stating: “If public lands are lent to developers for a certain project period and production is carried out with a mass production mindset, tens of thousands of housing units can be built. With the build-operate-transfer model, we establish a public rental structure instead of individual landlords, eliminating conflicts between tenants and landlords. The elimination of land costs also cuts rents in half.”
TÜGEM: "It will greatly improve rental accessibility"
Hakan Akdoğan, President of the All Entrepreneurial Real Estate Consultants Association (TÜGEM), emphasized that there is a great need for rental social housing in Türkiye and that they have been advocating for such an initiative for the past two years.
Noting that only TOKİ (Housing Development Administration of Türkiye) can realistically carry out such projects, Akdoğan said, “It was very important that the project was officially announced and endorsed by Minister Kurum. The main reason behind rent hikes is reduced supply. Demand remains high due to marriages, job relocations, students, and more. The higher the number of rental homes produced, the more prices will normalize.”
He added that these homes would see strong demand and concluded, “This project will significantly contribute to normalizing the rental housing market and making prices more accessible.”
GAPAS: "A strategic move to stabilize rents"
İsmail Özcan, President of the Real Estate Marketing and Sales Professionals Association (GAPAS), welcomed the announcement and highlighted the urgency of addressing housing needs.
He stated, “Having the state produce rental housing is a strategic step to keep rents at certain levels and to increase limited supply. Hopefully, the necessary planning and construction will be completed swiftly.”
Özcan noted that even if the process begins today, it could take two years before tenants can move in. “That’s why, as GAPAS, we propose adapting our previously introduced ‘new ownership model’—which includes rental aspects—to current TOKİ and Emlak Konut projects to bridge this two-year gap. Our ‘rent guarantee system’ could also help increase rental supply by encouraging owners who hesitate to rent their properties to do so, with state-backed guarantees,” he said.
Fuzul Topraktan: "Rents have surged most dramatically in Istanbul"
Faruk Akbal, Chairman of Fuzul Topraktan, praised the emphasis placed on rental social housing by Minister Kurum, adding that their company focuses on addressing housing needs by offering alternatives to traditional ownership.
Akbal highlighted that Istanbul is one of the cities where rent increases are most severely felt. He noted that they aim to expand their phased homeownership system nationwide, including models inspired by the UK’s “shared ownership” scheme.
“In this model, the ownership of the home is shared. For example, someone may own 25% of a home and begin using it while paying rent for the remaining 75%. Over time, they may purchase more shares and eventually own the home outright. This system makes housing more accessible, and for it to be sustainable, capital market instruments need to be effectively integrated,” he explained.
Helmann Holding: "There’s a critical need for social rental housing"
Selman Özgün, Chairman of Helmann Holding, pointed out that despite high demand, housing production has declined in recent years and urgently needs to increase.
He explained that high costs can hinder private sector production, but institutions like TOKİ and Emlak Konut can produce social housing more quickly and affordably.
“While everyone understands the importance of producing social housing for sale, now there is also an urgent need for rental social housing. Meeting this need will help balance rents. As Helmann Holding, we will soon announce a major project similar to a social housing model,” said Özgün.
Source: AA
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