Istanbul Buyuksehir Belediyesi Kentsel Donusume Kira Ve Faiz Destegi 5989.jpg

Istanbul Metropolitan Municipality: Rent and Interest Support for Urban Transformation

IMM; He made historical decisions that will accelerate the urban transformation in Istanbul. Rental assistance of 4,500 lira will be provided to tenants and beneficiaries living in risky buildings in urban transformation areas. IMM will also pay the interest of the loans of the citizens who will renovate their houses on the “Istanbul is Renewing” platform.

After the Kahramanmaraş-centered earthquakes, experts drew attention to the possible Istanbul earthquake, which accelerated the work of IMM in this area. İBB President Ekrem İmamoğlu shared the mobilization plan with the public in line with the findings and solution ways of the Earthquake Science Supreme Council in order to make Istanbul an earthquake resistant city. Then, he set a target for taking new steps that will guide the urban transformation studies. 2 important decisions prepared by the IMM Department of Earthquake Management and Urban Improvement, which will accelerate the evacuation, demolition and rebuilding processes of risky structures, were unanimously approved by the IMM Assembly.


The IMM Assembly has decided to pay 3 times the rental prices determined by the Ministry of Environment, Urbanization and Climate Change in order to accelerate the transformation process with rent aids in today’s economic conditions.

In this context; In order to rapidly evacuate and renovate 318 buildings that are likely to collapse on their own in the first stage, and 1,207 buildings that are risky in the second stage, rent assistance will be provided to the tenants of the buildings with a monthly rent of 4,500 TL throughout the year, and to the resident owners for 18 months, 4,500 TL per month. Owners who do not reside in the building will be given a monthly rental allowance of 3,000 lira for 18 months. For the tenants living in Risky and Reserve Building Areas under the authority of IMM; 4,500 lira per month for 12 months, and 4,500 lira per month for the beneficiaries, not exceeding 48 months.


In the Assembly Decision; Pointing out that the unpredictable increase in housing unit costs in Istanbul in the last 2 years has also increased the rents rapidly, it was stated that the average rental price of a 100 square meter apartment in Istanbul is based on 10 thousand liras. It was emphasized that high rental prices are an important problem that both exacerbates the housing problem and clogs the urban transformation processes.


The IMM Assembly also unanimously approved the proposal to “provide interest support for loans to be used by beneficiaries in risky structures”. According to the decision; The interest of the construction loan up to 1 million liras to be used by low-income citizens from banks for the renewal of risky structures determined within the scope of Law No. 6306 will be paid by IMM.

The following conditions will be sought for the support to be given to the right holders of housing and workplaces in order to realize the urban transformation applications in a fast and effective manner:

The structure to be converted has been determined as a risky structure within the scope of Law No. 6306
Reconciliation for the renovation of the building by KIPTAS within the scope of Istanbul Renewal
The total household income of the beneficiary should not exceed 2 times the net minimum wage.
The term of the housing construction loan is maximum 10 years, the maximum term of the workplace construction loan is 7 years


Istanbul residents who live in Risky and Reserved Areas under the authority of IMM, and 318 buildings that are likely to collapse on their own as a result of a quick scan, and who want to benefit from rental assistance, will complete the evacuation and demolition procedures after the risky structure is identified. With the approval of the Ministry of Environment and Urbanization for rental assistance through the district municipality, IMM will start rent assistance.

Citizens who want to benefit from interest support will first apply to KİPTAŞ via and reach an agreement to transform their risky structure.


İBB’s KİPTAŞ, İstanbul İmar A.Ş. and BİMTAŞ companies, aims to transform the risky housing stock in Istanbul into safe, earthquake-resistant and environmentally friendly structures. In this context, structures found suitable for transformation are renewed at affordable costs under the guarantee of IMM affiliates.

A total of 24 thousand applications, consisting of more than 466 thousand independent units and covering more than 1 million 700 thousand people, were made to the “Istanbul is Renewing” platform. So far, only 4 risky buildings in Kadıköy, Şişli and Beşiktaş have been evacuated and demolished, and the processes of new projects continue. Renovation projects will be laid in a short time in areas consisting of single and multiple buildings in Bakırköy, Fatih, Kadıköy, Bahçelievler and Kartal. There are 199 applications in the process of reconciliation. These; It consists of 5 thousand 815 residences and 313 commercial units in 6 thousand 128 independent units from 23 districts and 78 neighborhoods and covers approximately 23 thousand 260 people.

Source: (BYZHA) – Beyaz News Agency

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