We have already told you that Turkey was in first place in Europe in terms of the growth rate of housing prices for both sale and rent. According to the updated Housing Price Index published by the country's Central Bank, the average price of 100 square meters of housing exceeded the threshold of 1.5 million Turkish lira (TL). Which makes it impossible to buy an apartment even for middle-income citizens, not to mention low-income categories.
Well, the rates for rent already exceed the minimum wage in many places. Only in Antalya, the monthly payment increased by 329%, and in the sought-after areas of Istanbul, the rent exceeded 19,000 TL in some places.
The government has been working on ways out of this situation for a long time; and, finally, the other day announced two approximate solutions to the problem.
The first is the construction of special housing on so–called state-owned lands (including unused territories belonging to municipalities), which will be sold to needy categories of citizens at the lowest possible price. In particular, young people who have just got married, created a family and do not have savings yet will be able to count on it.
This will be implemented in addition to the existing programs conducted by the Department of Mass Housing Construction.
Well, the second option is that all the same newly built houses will be rented out to residents at special preferential rates, which will save tenants from inflated rent rates and worries about the fact that owners increase tariffs almost monthly.
To begin with, as the President of the Republic of Turkey Recep Tayyip Erdogan said, 150 thousand units of such preferential housing will be built.
Perhaps, these measures will sober up the landlords somewhat, who are now trying to squeeze the maximum out of their existing real estate. It's good if it's limited to just renting out the "main" apartment with moving to a summer house all year round, to replenish the family budget; more often tenants have to face an illegal increase in rental prices.