Application dates, loan amounts, eligibility criteria and interest rates for the “Half Covered by Us” urban transformation campaign became widely discussed after the announcement. Environment, Urbanization and Climate Change Minister Murat Kurum stated that houses built under the “Half Covered by Us in Urban Transformation” program will be delivered within two years and that right holders will receive 10,500 TL relocation assistance and 5,250 TL monthly rent support. Below are the details on the 2023 Urban Transformation “Half Covered by Us” campaign application dates and requirements.
Campaign Launched
President Erdoğan announced that half of the cost for urban transformation projects will be covered by the state. The Ministry of Environment, Urbanization and Climate Change published the campaign details. A large number of people are expected to benefit from this program.
Istanbul Chosen as Launch City
President Recep Tayyip Erdoğan announced that the “Half Covered by Us” urban transformation campaign will begin in Istanbul and said:
“We will carry out all these transformations with TOKİ’s assurance and quality, leaving no room for abuse or doubt. Those who wish to redevelop their parcel-based homes themselves will also be offered loans of 1,250,000 TL at a 0.74% interest rate. Citizens should know that if they want to safely rebuild their risky building, the state stands by them with grants and loans. We are starting the campaign from Istanbul. Our goal is to complete 300,000 of the 1.5 million housing units in need of transformation in Istanbul within one year — 200,000 on-site and 100,000 in reserve areas. In the following years, we aim to continue at the same pace and eliminate earthquake-vulnerable buildings in Istanbul within five years.”
Application Dates Announced
Minister Murat Kurum announced that applications for the “Half Covered by Us in Urban Transformation” campaign will be accepted on e-Government between April 26 and May 29.
He added that ministry teams will conduct preliminary inspections of the buildings and provided further details:
“Our ministry teams will perform preliminary inspections. They will prepare an initial report assessing whether a building is risky or a priority. It will be determined whether the building is suitable for transformation. Within the scope of these applications, our teams will produce a report. We are starting on-site transformation for one thousand housing units today. For reserves, we have laid foundations for 2,041 units and delivered 4,000 units thus far. Today, construction and delivery have been completed for 6,500 housing units at a cost of 10.5 billion TL.”
Homes Built Under the Campaign Will Be Delivered Within Two Years
Minister Murat Kurum, outlining campaign details, affirmed that the residences constructed within the “Half Covered by Us” program will be delivered within two years. He said that if a building is suitable for transformation and two-thirds of owners agree, the work will proceed either on-site or in reserve areas, with priority given to on-site projects. If the number of units requiring transformation exceeds 200,000, a lottery will be used. The state will cover half of the remaining cost after deducting on-site and reserve valuations. Homebuyers may repay the remaining amount with a fixed-rate loan up to 10 years. Examples given included: for a 2+1 apartment with a total cost of 1,500,000 TL, the state covers half; a citizen could pay 75,000 TL down and pay the balance with monthly installments starting at 5,625 TL over 10 years. For a 3+1 unit with a cost of 1,800,000 TL, the state likewise covers half.
10,500 TL Relocation Assistance
Minister Kurum also emphasized that rent and relocation assistance will be provided and stated:
“We will complete construction within a maximum of two years; some projects will be finished in one year and others in two. We will provide 10,500 TL relocation assistance and 5,250 TL in monthly rent support. If costs rise, we will increase our supports accordingly.”
For details on relocation assistance, see the appropriate government guidance page.
Down Payment and Loan Terms Announced
For a 100 m² 2+1 apartment with a state-covered portion of 750,000 TL, buyers will pay a 10% down payment on the remaining amount and monthly installments starting at 5,625 TL over a 10-year term. The campaign’s loan term is up to 10 years. For a 120 m² 3+1 apartment with 900,000 TL covered by the state, buyers will likewise pay a 10% down payment on the remainder and monthly installments starting at 6,750 TL over 10 years.
Application Details
- Property owners must apply via e-Government between April 26 and May 29.
- Ministry experts will carry out preliminary inspections of applicants’ buildings and prepare an assessment report.
- For buildings where agreement is reached voluntarily, a protocol will be drafted and the project phase will begin.
- The permit (license) process will start.
- Once a building is vacated, construction managed by TOKİ will begin and must be completed within two years at the latest; during this period, 10,500 TL relocation assistance and 5,250 TL monthly rent support will be provided.
- The ministry will publish full campaign details before applications open on Wednesday.
🔹 ‘Yarısı bizden’ kampanyasının detayları neler?
🔹 Kiracılar için ne tür haklar yer alacak?
🔹 Kampanyadan nasıl yararlanılacak?Çevre, Şehircilik ve İklim Değişikliği Bakanı Murat Kurum, merak edilenleri bu akşam saat 21.00’de TRT Haber’de yanıtlayacak. pic.twitter.com/rMifuyn4GQ
— TRT HABER (@trthaber) April 21, 2023