The new housing project to build social housing in Turkey will increase supply and help reduce rental prices. “This is the largest social housing project in the country’s history,” says Turkish President Recep Tayyip Erdogan.
The buildings to be built under the project will be offered to first-time home buyers on 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 built with waste-free, energy-saving 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 lower rental prices,” the president emphasized.
“The rise in property prices is ‘artificial’.” Iron and cement prices are currently on the decline,” said Environment, Urbanization, and Climate Change Minister Murat Kurum.
