Construction of housing project to start next month

Construction of housing project to start next month

Construction of housing project to start next month

Construction work for the government’s massive social housing project will start next month, President Recep Tayyip Erdoğan has announced.

The groundbreaking for 5,000 houses under the project will take place on Oct. 25, Erdoğan said following a cabinet meeting on Sept. 26.

The number of applications for the project, details of which were unveiled on Sept. 13, has already reached 5 million, the president said, reiterating that this would be the largest-ever social housing project to be undertaken in Türkiye.

The deadline for submitting applications will expire at the end of October.
The project includes the development of a total of 500,000 houses in all 81 provinces of the country and 50,000 offices. Moreover, the government will offer 250,000 land plots on which people will be able to build their own houses.

“In the first phase of the project, 250,000 houses, 10,000 offices and 100,000 land plots will be delivered within two years,” Erdoğan said.

“As a government that has built 1.17 million houses over the past 20 years, we are determined to implement this housing project,” he added.

The government has initiated the project in a bid to arrest the rocketing house prices and rents by increasing house supplies and offering them at affordable terms.

A total of 900 billion Turkish Liras will be invested in the social housing project. Two-bedroom and three-bedroom apartments will be offered at 608,000 liras and 850,00 liras, respectively, with payments up to 240 months.