The new social housing construction project in Turkey will increase supply and help reduce rental prices. “This is the biggest social housing project in the country’s history,” Turkish President Recep Tayyip Erdogan said.
Buildings to be constructed under the project will be offered to first-time home buyers with affordable payment plans. “Some of these properties will be given to pensioners, relatives of veterans, as well as newlyweds,” Erdogan said. Work on the project is nearing completion and details will be made public this month.
All new social housing will use renewable energy systems. The buildings will be constructed with waste-free, energy-efficient and climate-friendly materials. “Our goal is to boost the construction sector and provide our citizens with affordable housing by increasing the supply that has been reduced during the pandemic. This project will also contribute to lowering rental prices,” said the president.
“Rising property prices are ‘artificial’.” Iron and cement prices are currently falling,” said Murat Kurum, Minister of Environment, Urban Planning and Climate Change.
Photo by Mathias Reding: https://www.pexels.com/photo/a-turkish-flag-hanging-under-a-window-in-an-apartment-house-12649648/