As usual, we remind you about some of the most relevant news of the Turkish real estate market published last week.
A national project is in full swing to provide the population who cannot buy apartments or houses at full cost with so-called «social» housing. More than 5 million applications have already been submitted, of which more than a million and a half were made by residents of Istanbul.
100,000 lots will also be distributed among middle-income families, so the nationwide initiative concerns not only the poor.
A couple of legal-related news deserves attention; for example, the process of buying and selling real estate is becoming more «transparent», due to the new electronic identity verification system EKDS. In a pilot format, it is already being tested in Istanbul and some other key cities.
Control has also increased over those renting out housing: those who overestimate the amount of rent are in for big trouble.
The transport infrastructure of Turkey's largest metropolis continues to develop. Seven more ferry routes have appeared recently. Well, the metro and ground rail transport lines being laid contribute to an increase in real estate prices in urban areas where these new routes appear. So, Marmaray has already been «noted» as a project, thanks to which rent in a number of locations has risen in price by 20% in a short time, and the cost of housing for sale has increased to 36%.