House prices down thanks to massive project: Minister

ISTANBUL

The government’s recently launched “My First Home My First Workplace Project” has had an immediate effect to bring down housing prices, Environment, Urbanization and Climate Change Minister Murat Kurum has said.

“We are implementing the biggest social housing project in the history of the republic,” Kurum said on Nov. 8 at the Urban Transformation Symposium, organized in Istanbul by the Esenler Municipality and the Yıldız Technical University.

The “My First Home My First Workplace Project,” announced by President Recep Tayyip Erdoğan last month, includes the development of a total of 500,000 houses in all 81 provinces of the country and 50,000 workplaces.

Construction of 250,000 houses in the first phase will be completed in two years and by 2028 all 500,000 houses will have been built.

“Housing prices stopped rising with the launch of our project and have started to come down,” Kurum added.

“In this process, we will continue to support both our low-income and middle-income people. We will decisively continue to implement such projects.”

The minister also noted that there are urban transformation projects in progress in all 81 provinces of the country.

“Currently, the transformation works of 250,000 residences are continuing,” Kurum said.

“Earthquake transformation can be resolved with the consent of our citizens as well as the unity of ideas and forces. You cannot do this process without consent.”

Kurum said there are projects in 39 districts of Istanbul.

“We are eliminating the unplanned construction and squatting in our cities. With the new residential areas we plan, we also relieve the areas where the population is concentrated,” he said.

“We are carrying out an earthquake transformation that will ensure the safety of life and property of our citizens in Fikirtepe, Güngören Tozkoparan, Kağıthane, Esenler and throughout Istanbul. The new city concept we will establish in Kanal Istanbul is the most beautiful and successful example of urban transformation and planned urbanization.”

Kurum said the new houses are being built with the most suitable payment terms and delivered to the citizens.

“We strengthen and root our understanding of the social state,” he said.

“Even the most developed countries of the world have shelved the concept of social state, they do not implement such projects anymore.”