The municipality's trump card in the housing market; Why was the World Cities Day award given to Istanbul? Housing market outlook: 1 Istanbul Municipality 5 years after the implementation of the dual-purpose policy in the worn-out high-risk neighborhoods of the city,.
Due to the "success" of not repeating the big wrong procedure of mayors in the world.
He managed to receive the World Cities Day Award held by China in Shanghai. 2 In 2021, a program called "Renovate Istanbul" began in Istanbul. 3 This project is intended to "renovate and secure" high-risk buildings against earthquakes. 4 However, the ultimate goal was not to "tear down dilapidated buildings and rebuild them."
Instead, "adequate access by older residents to affordable housing during renewal" is defined as the primary mission of the program. 5 The Chinese organizers of the World Award for Successful Cities known as the "Shanghai Award" at their ceremony this year, which coincided with the World Cities Day, the Istanbul Municipality was recognized as worthy of praise and encouragement for its humane approach in revitalizing dilapidated neighborhoods. 6 What was the spice of this award in Istanbul,.
Connecting the flow of neighborhood renovation to the flow of housing supply is suitable for all residents of the neighborhood. The urban renewal plan in Istanbul has 8 economic, social and urban drivers that prevent "throwing the old people out of the neighborhood after renovation". The "negotiation table" in the neighborhood nominated for renewal is the first stimulus for residents to connect to the modernization process in Istanbul. What the residents like is the basis for renewal, not what the municipality decided. Free support from the municipality to those with low incomes in the renovation of dilapidated houses;
This is the second incentive of the "Renovate Istanbul" plan. Those whose income is up to three times the minimum wage receive between 40 and 65 percent of the cost they have to pay in addition to the renovation loan, "free assistance from the municipality". The "Kiptash" company is the municipal agency in providing grants to low-income earners in the case of high-risk house renovations. This company also, as the third driver of "affordable housing", builds and provides a series of social housing in every neighborhood designated for renewal. The Turkish government also pays an equivalent figure for a construction loan and renovation allowance.