Affordable Housing in Turkey: President Erdogan Announces 500,000 Homes Project
A New Era for Affordable Housing in Turkey: Real estate and construction industry representatives shared positive views on President Erdoğan’s newly announced “Century Housing Project,” emphasizing that it will provide significant advantages for low-income citizens struggling to access housing. The project is set to boost housing supply and stabilize the market, marking the beginning of a new phase in Turkey’s housing policies.
Under the project, 500,000 social housing units will be built across all 81 provinces, giving low-income families a chance to own homes under favorable terms.
Project Details: Affordable, Accessible, and Inclusive
The housing units will be designed as 1+1 and 2+1 apartments with low-rise, traditional architectural styles that blend into local surroundings. Special quotas will be reserved for veterans, families of martyrs, people with disabilities, retirees, young adults, and families with three or more children.
According to the plan, families of martyrs and veterans will have a 5% quota, large families will receive 10%, while retirees and young people aged 18–30 will benefit from 20%.
Homes will be priced starting at 1.8 million TL, available with 10% down payments and 240-month installments. Monthly payments will start at 7,313 TL in Istanbul and 6,750 TL in other provinces. Applications will be accepted between November 10 and December 19, with construction beginning in November and the first draws in December. Deliveries are scheduled to begin by March 2027.
“A Stabilizing Force in the Market”
Ziya Yılmaz, Chairman of KONUTDER (Association of Housing Developers and Investors), expressed strong support for the initiative. He emphasized that constructing 500,000 social homes across 81 cities—100,000 in Istanbul and 15,000 designated as rental social housing—will bring great relief to low-income, retired, young, and large families.
Yılmaz highlighted that during a period of rapidly increasing property prices and rents, this model of social rental housing—priced at half the market rate—will both ease the financial burden on low-income citizens and increase the supply of rental units, helping to balance the market.
He added,
“We believe this visionary move, led by our President, marks a new era in Turkey’s social housing policies. This comprehensive project will not only meet the need for shelter but also strengthen social justice, enhance urban living quality, and establish a sustainable balance in the housing market. With cooperation between the public and private sectors, Turkey’s housing production capacity will rise, paving the way for a more accessible real estate market for all citizens.”
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