8,885.00 TRY BIST 100 BIST 100
4.84 CNY CNY CNY
34.29 USD USD USD
37.25 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
44.67 TRY Interest Interest
74.45 USD Fossil Oil Fossil Oil
32.79 USD Silver Silver
4.44 USD Copper Copper
102.49 USD Iron Ore Iron Ore
374.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,023.12 TRY Gold (gr) Gold (gr)

Low interest rate loan support for urban transformation!

The Ministries of Treasury and Finance, as well as Environment, Urbanization and Climate Change, are implementing a new financing model for the housing stock that needs to be urgently converted in many provinces, especially in Istanbul.

Low interest rate loan support for urban transformation!
The Ministries of Treasury and Finance, as well as the Ministries of Environment, Urbanization and Climate Change, are implementing the "Urban Transformation Financing Model" in order to realize urban conversion quickly in many provinces, especially in Istanbul.
Finance Minister Nureddin Nebati made statements in Şanlıurfa at the weekend with Environment, Urbanization and Climate Change Minister Murat Kurum about new financing models to be provided to support urban transformation.
With the Urban Transformation Financing Model, 3 different approaches were developed for the houses that need to be converted urgently.
In the first model, independent department owners who agree with the housing manufacturer will be provided with loans on favorable terms according to the market. With this model, urban conversion will be carried out without losing off the rights of housing owners and precedents will be preserved.
Under the second model, housing producers will be encouraged for island-based urban conversion. Low-cost financing support will be provided to housing producers and the supply of earthquake-resistant housing will be increased.
In both of these cases, Credit Guarantee Fund (CGF) supports will be put into effect and access to credit will be facilitated for both the housing manufacturer and the independent department owners.
Turkey will meet the concept of "rental housing producer"
With the third model, the works of which started before February 6 and has different examples in the world, especially the supply of rental housing will be increased and speculations and price increases in rent will be prevented.
With this model, the concept of "rental housing producer" has been introduced to Turkey and the houses produced will primarily provide services to risky building owners and tenants in urban transformation. Rental amounts and rent increases will be determined by the public authority and rent ceiling will be applied.
Thus, rent inflation, which has increased far beyond reasonable levels especially since the Covid-19 outbreak, will be reined in and the fight against inflation will be carried out more effectively.
In addition, the KGF package in force will be revised in order to facilitate the access of contractors involved in TOKİ projects after the earthquake to the financing they need to bind their contracts in the first place.
2 years non-repayment loan with 0.69 interest
Istanbul Metropolitan Municipality Council AK Party Group Deputy Chairman and Esenler Mayor Tevfik Göksu stated that very important lessons will be learned from the earthquakes at the March meeting of the city council and that those who have said 'no' to urban transformation so far will apologize to the nation.
Stating that the ministries are preparing a new financing model for urban transformation as good news for Istanbulites, Göksu said that every Istanbulite who wants to convert his / her housing can use a loan of at least 1 million liras for 2 years with 0.69 interest without repayment.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Blastr and Knauf Interfer partner to produce sustainable green steel

Wednesday, October 23, 2024

Sharp reduction in freight tariffs: Turkish exporters enter a challenging period

Saturday, October 19, 2024

GMH Gruppe Acquires Kind & Co.

Thursday, October 10, 2024

Mine Workers Union: "Imported coal is leaving domestic producers jobless"

Sunday, October 6, 2024

Renewable energy: Regulations key to competitiveness

Sunday, October 6, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now