Social housing project for rent in Istanbul: Application conditions and rental fees have been announced

With the rise in housing and rental prices in Istanbul, the details of the social housing project for rent that citizens have been eagerly awaiting have begun to become clear. While Minister Murat Kurum announced that the residences would be rented for 3 years, he shared many details from application requirements to rental fees. Monthly rent for 1+1 residences in the project will start from 10 thousand liras. Applications will begin to be received on September 14.

Minister Murat Kurum made important statements about the rental housing model to be implemented in Istanbul. Stating that the project was prepared especially to ensure that citizens have access to housing at affordable prices and to contribute to the balancing of the rental market, the Authority said that the houses will be given to the rightful owners by lottery method.

RESIDENCES WILL BE RENTED FOR 3 YEARS

One of the most striking details of the project was the rental period. According to the information provided by the Minister Institution, eligible citizens will be able to live in residences for 3 years.

After the three-year period is completed, the current rental period will end and the beneficiaries will be determined again for the residences. It is planned to determine the citizens who will live in the residences in the new period by drawing lots.

Thus, it is aimed to make social housing for rent available to more citizens.

APPLICATION CONDITIONS ARE ANNOUNCED

Minister Kurum also announced the conditions to be sought for citizens who want to benefit from the project.

Accordingly, applicants must be over 18 years old and be citizens of the Republic of Türkiye. Within the scope of the announced conditions, marriage status will also be among the application criteria.

The project will also have an income requirement. The total monthly income of people living in a household must be below 100 thousand liras.

Since the applications are for citizens living in Istanbul, the residence requirement will also be applied. The applicant must have been residing in Istanbul for at least one year.

THOSE WHO HAVE A REGISTERED RESIDENCE CANNOT APPLY

One of the main goals of the rental social housing project will be to support the housing needs of citizens who do not own a home.

For this reason, citizens who will apply will not have to have a residence registered in the land registry. Thus, the aim will be to deliver affordable rental housing primarily to people who do not own a home.

Beneficiaries will be determined by lottery among citizens who meet the application requirements.

1+1 RESIDENCES WILL START FROM 10 THOUSAND LIRA

One of the most curious topics was the monthly prices of rental houses. Minister Kurum announced that rental prices were determined according to housing types as a result of the studies carried out.

Accordingly, the rental price of 1+1 residences will start from 10 thousand liras per month.

The monthly rent will be 12 thousand liras for 2+1 residences and 15 thousand liras for 3+1 residences.

The rent for 4+1 flats, the largest housing option in the project, will start from 18 thousand liras.

It is planned to take into account the characteristics of the families applying and the number of children in the distribution of housing types.

RENTAL PRICES WILL BE BELOW THE MARKET

Minister Kurum emphasized that the determined rental prices are quite low compared to the current market conditions in Istanbul.

Stating that the project aims not only to facilitate citizens' access to housing, but also to create balance in the rental market in Istanbul, Kurum stated that social rental housing will be offered to citizens well below market prices.

The institution pointed out that in some regions, the announced figures may be even lower than half of the current rental prices.

"TWO MINIMUM WAGE EARNING CITIZENS WILL BE ABLE TO SIT EASILY"

In his statement, the Minister Institution said that the houses were planned especially considering the budgets of low- and middle-income citizens.

Stating that a household earning two minimum wages can easily live in these residences, the Authority stated that civil servants and retirees can also access the residence under favorable conditions within the scope of the project.

The application of social housing for rent is expected to create an important alternative to the high rent problem in Istanbul.

APPLICATIONS WILL START ON SEPTEMBER 14

The application date awaited by citizens who want to benefit from the project has also been announced.

The Minister Institution announced that applications will start on September 14. After the applications are received, citizens who meet the conditions will be evaluated and the beneficiaries will be determined.

A lottery method will be applied during the entitlement process. Citizens who are entitled to live in residences as a result of the draw will be able to settle in their homes based on the determined rental prices.

After the three-year lease period is completed, the houses will be put into a lottery again and allocated to new beneficiaries.

In the project, which is closely followed by citizens looking for affordable housing in Istanbul, all eyes are now on the start of the application process and the announcement of the draw calendar.