by Melih Alsaç
The vital urban transformation process in Istanbul is gaining momentum with the state-sponsored "Half from Us" campaign. This campaign, which aims to make risky buildings safe, offers important opportunities for homeowners and tenants. Within the scope of the campaign, grants and loan support of up to 1.5 million TL per house are provided.
Purpose and Scope of the Campaign
The campaign launched by the Ministry of Environment, Urbanization and Climate Change covers 39 districts in Istanbul. The aim is to transform earthquake-resistant buildings and provide citizens with safe housing. In the first phase, it is aimed to transform 600 thousand independent sections. Within the scope of the campaign, both building-based and island and neighborhood-based transformation projects are encouraged.
Who Can Benefit?
In order to benefit from the campaign, one must be the rightful owner of a building in Istanbul that has been identified as a risky building. Although tenants cannot apply directly, they can benefit from relocation and rent support. Tenants receive a one-time relocation assistance of 100 thousand TL, while rent support of up to 8,000 TL per month is provided for homeowners and tenants.
What are Financial Supports?
- 700,000 TL grant per dwelling
- 700,000 TL interest-free loan per house
- 350,000 TL grant + 350,000 TL loan for the first workplace
- Loan only for additional residential and business premises (up to 1.4 million TL)
- Loan repayment starts 2 years after building license
- 10-year maturity with no interest in the first year and an increase of half of the CPI in the following years
- 100,000 TL relocation (evacuation) support
In total, the support offered for a house reaches 1.5 million TL. Support for workplaces is also provided under similar conditions.
What are the Application Requirements?
- Risky building report should be obtained for the building (with core sample from authorized institutions)
- Building license should be after April 1, 2023
- The new structure should not exceed 1.5 times the old structure (excluding parking lot and shelter)
- Establish a condominium easement and make a contract with the contractor company
- The project must be approved by the district municipality
Applications for this campaign, which has no time limit, are no longer made through e-Government, but in cooperation with district municipalities and the Ministry.
Expert Comment: What Should You Pay Attention To?
According to experts, the campaign is a great opportunity to cover half of the conversion costs. However, there are some critical points to be considered:
- Contractor selection: Reliable, referenced and technically competent companies should be worked with.
- Contract content: Construction duration, material quality, payment schedule should be clearly written down.
- Inspection and monitoring: Building inspection companies and technical experts should be involved throughout the construction process.
Inappropriately executed transformation processes can lead to irreparable material and moral damages in the future.
An Observation from the Field: The Zeytinburnu Case
Especially in some districts such as Zeytinburnu, the effects of this campaign are very clear. While an average of 100 building permits were issued annually in the district 2-3 years ago, this figure has reached 350 by 2024. There are two main reasons for this increase:
- Many municipalities grant the right to an additional floor within the scope of transformation,
- Significant financial incentives provided through the "Half on Us" campaign.
The fact that 700,000 TL grant and the remaining amount is paid in installments with a 10-year maturity has increased the interest of property owners in the transformation. When these installments are spread over the years, average monthly payments vary between 7,000 - 8,500 TL. This means a serious convenience and opportunity for property owners.
However, this positive outlook also has some implications that need attention. Additional floor rights and increased transformation activities are significantly changing the demographic structure in the region. As taller buildings are built, the old neighborhood fabric may be disrupted, population density may increase, and some former residents may be forced to move to other districts. This may lead to a transformation in the social structure and new needs in urban planning.
Why is this Opportunity Valuable?
Considering the earthquake risk of Istanbul, the "Half from Us" campaign provides an important support in terms of both financial and moral security. This campaign offers a serious solution especially for buildings that could not take a transformation decision in the past due to high costs. The transformation process becomes more accessible for both right holders and tenants.
Conclusion: Act Now for a Secure Future
The campaign is a great opportunity for those living in risky buildings in Istanbul, as the state covers half of the transformation costs. Everyone who meets the conditions can benefit from this support. Contacting an expert real estate consultant without delay and starting the process will be the best investment for the future for you and your family.
