"Half-From-Us" Campaign Accelerates Urban Renewal: Deadline Looms for Applications

Urban renewal in Istanbul gains unprecedented momentum as the Ministry of Environment, Urbanization and Climate Change rolls out the "Half-From-Us" campaign, extending the application deadline to December 31, 2026, and sparking a surge in demand.

Scale of the Transformation Wave

■Over 1,274,000 independent units have been earmarked for urban renewal, with 998,000 already completed.

■As of July, 276,000 units remain in the conversion pipeline across 39 districts.

■The campaign has integrated an additional 376,212 independent units into the renewal process.

Financial Engine Behind "Half-From-Us"

■Homeowners receive 875,000 TRY grant, 875,000 TRY low‑interest loan, and 125,000 TRY relocation assistance.

■Business owners are offered a combined 1,000,000 TRY support package.

■Loan repayments start two years after the building permit is issued, with terms extendable up to 10 years; the first year carries zero interest.

■From the second year onward, payments are indexed to 50% of CPI.

Expert Warnings and Operational Bottlenecks

■Urban renewal projects involve time‑intensive steps such as condominium owner consensus, technical inspections, and official filings; a rush in the final weeks may cause processing delays.

■Real‑estate attorney Çiğdem Kezer highlights a one‑year entitlement period after establishing a kat irtifakı and notes that the grant applies only to the first dwelling.

■KENTSEV President Haldun Ersen stresses that replacing hazardous structures is now a safety imperative in seismic‑prone Istanbul.

Market participants should anticipate a noticeable spike in application volumes as the deadline approaches, potentially tightening short‑term liquidity in construction materials, credit demand, and collateral markets. The influx of low‑interest loans may temporarily soften housing price pressures, presenting HFT algorithms with arbitrage opportunities in related equity, bond, and TL/USD swap spreads.