Owners of earthquake-risky buildings in Istanbul have another year to tap state construction aid after a presidential decision published in Tuesday’s Official Gazette extended the ‘Yarısı Bizden’ (Half From Us) campaign to Dec. 31, 2027.
Decision No. 11902 amends the February 2024 decree that launched the scheme, extending the deadline set in its article on construction assistance. President Recep Tayyip Erdoğan first announced the extension after a cabinet meeting on Sept. 7; the gazette notice makes it legally binding. The campaign had been due to expire at the end of 2026.
What owners can receive
The scheme is Istanbul’s main financial tool for rebuilding the city’s ageing housing stock ahead of an expected major earthquake. Under the building-by-building model, the owner of each flat in a block officially classed as a ‘risky structure’ under Law No. 6306 can receive a 875,000 lira grant, a 875,000 lira loan and 125,000 lira in relocation support, a total of 1.875 million lira. Shops and offices are eligible for half the grant and loan amounts plus the same moving allowance.
In larger area-based projects run by TOKİ, the state housing agency, or Emlak Konut, its listed developer arm, the grant and relocation support are deducted from construction costs and the remainder is repaid in long-term instalments.
An earlier amendment in February widened eligibility to any building declared risky by the end of 2026, even if licensing or condominium registration was still pending.
Progress so far
The government said in September that 108,881 independent units had been renewed under the campaign, benefiting about 500,000 residents. Nationwide, officials say 2.38 million units have been rebuilt since 2012.
The extension also gives breathing room to households affected by this month’s floods, after Environment Minister Murat Kurum offered two transformation options in Ayazağa.
Why it matters to foreign buyers
Foreigners who own flats in older Istanbul blocks are rights holders like Turkish owners and can benefit if their building is declared risky. Buyers looking at second-hand stock should check a building’s construction year and any risk report before signing, alongside the steps in our guide to buying property in Turkey as a foreigner. New-build supply remains tight, with new Istanbul rents up 35.5% on the year.
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Sources
- Resmi Gazete’de yayımlandı: Kentsel dönüşüm desteği uzatıldı (Ekonomim)
- Yarısı Bizden kampanyası 2027’ye uzatıldı (Milliyet Uzmanpara)
- Yarısı Bizden kampanyasına tüm riskli yapılar dahil edildi (Bengü Türk)
Photo: Maurice Flesier / CC BY-SA 4.0, via Wikimedia Commons
