The urban transformation program is not going as fast as planned. As a result, almost a quarter of a million housing units in Turkey's largest metropolis can no longer «wait» - they require immediate strengthening or modernization.
The recent devastating earthquake in Dyuzdzha, which only miraculously did not lead to human casualties, makes the strength of houses the most important item on the news agenda. Especially in quake-prone Istanbul.
So why with the transformation of cities it is not possible not only to accelerate, but even to comply with the previously stated pace? Homeowners blame contractors, and contractors blame homeowners; in any case, it takes a long time to resolve these disputes – often with the involvement of the court.
In addition, as real estate market experts complain, «... banks are stingy with loans and give them very little». They would give out more amounts on preferential terms – and families would be more willing to leave emergency housing.
Another problem some people consider foreigners who allegedly bought up all the apartments. Although this is not true: investors from abroad often purchase real estate in complexes that developers build specifically for foreigners, because local residents cannot afford apartments in the residential complex, where lots at a price start from 150,000-200,000 dollars and above.
Be that as it may, families are in no hurry to move out of the buildings to be renovated and strengthened, because, among other things, they can't afford rent either.
Nevertheless, 695,000 residences have already successfully passed the necessary procedures within the framework of the urban transformation project; including the districts of Fykyrtepe, Gaziosmanpasha, Esenler, Zeitinburnu, Bagcylar, Beyoglu and Gungoren.
Earlier we reported that owners of empty real estate in Istanbul face increased taxes.