Modernizing Turkey's Cities: A Look at Urban Transformation

2024-04-04

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Modernizing Turkey's Cities: A Look at Urban Transformation
Turkey, a country rooted in history, has a big challenge: earthquake preparation. Many of its cities are located on active fault lines, creating worries about the safety of citizens and infrastructure. To address this vital challenge, the government has launched an ambitious initiative: large-scale urban restructuring.

This project aims to completely update urban environments, creating safer, more modern, and sustainable cities.

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In this article, we'll look at how such projects try to protect communities against earthquakes while also stimulating the economy and the real estate market.

What Is The Urban Transformation Project in Turkiye?

Urban transformation is a well-known urban strategy, which Türkiye has been officially pursuing for several years. The plans aim to rebuild residential units in Türkiye according to contemporary building standards. This strategy was developed in response to several Turkish decisions on construction safety practices. Turkey's urban transformation plans include all Turkish states and Istanbul now leads the way.

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Turkey's urban transformation plans seek to rebuild more than 7.5 million homes in an initial phase until 2023, with about 18 million units renovated in the following years.

Related: What Are the Benefits of Real Estate Development?

Why Urban Transformation for Turkiye

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Urban transformation is an important project for Turkey, driven by two main goals. Firstly, earthquake safety is a top priority. The purpose of urban transformation is to demolish existing buildings that are susceptible to earthquakes and replace them with modern structures built to withstand natural catastrophes. Secondly, the requirement for infrastructural enhancements is critical. Turkish cities are frequently limited by obsolete infrastructure, which appears in crowded roadways, and inadequate public transportation systems. Urban transformation programs provide the potential to redesign existing systems, opening the way for increased urban mobility and a higher standard of living for people.

The Benefits of Turkiye’s Urban Transformation

Turkey's urban transformation initiative isn't just about bricks and mortar; it's about cultivating a brighter future for its citizens and the nation as a whole.

  • Urban shift significantly decreases catastrophe risk. By replacing old structures with earthquake-resistant ones.
  • Modernized housing projects include better facilities and infrastructure, resulting in an improvement in overall living standards for people.
  • The creation of more parks and green spaces contributes to a healthier environment for families and children.
  • The construction boom linked with urban redevelopment generates a substantial number of jobs in construction and engineering.
  • The favourable influence on many industries including construction, real estate, and tourism promotes growth throughout the whole Turkish economy.
  • These plans will attract foreign investors to acquire real estate, bringing immediate advantages to the economy.

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Turkiye Urban Transformation

The Impact of Urban Transformation on The Turkish Real Estate Market

Turkey's massive urban redevelopment initiative goes beyond just securing towns against earthquakes. It also develops the real estate market. Here are the main effects:

Increased Property Values

Replacing outdated buildings with modern, earthquake-resistant constructions dramatically improves community desirability. This results in higher property prices, which boost the value of existing real estate and encourage investment in new constructions. This also makes good profits for real estate investors when their properties appreciate more over time.

Modern amenities, improved infrastructure, and safer living conditions are driving demand for homes in changing neighbourhoods. This benefits both buyers looking for quality housing and developers creating new homes.

Market Diversification

Urban evolution in Turkiye will develop a greater choice of housing options. This may include modern apartments, family-friendly apartments, and commercial space and stores, attracting a wider range of buyers and renters and enhancing market liquidity. This will encourage developing companies to build more housing units.

The Challenges of the Urban Transformation Project

The Urban Transformation Project in Turkey has some challenges. One of the most pressing issues is the potential relocation of residents, especially those from low-income families, as a result of the focus on demolitions and reconstruction. These people may find it difficult to cover the costs of living in newly developed areas. Furthermore, project implementation has been uneven, with varying levels of progress between regions. This uneven growth can lead to gentrification, which may force residents to migrate away from city centres, devastating communities and exacerbating social and economic inequality.

Buy a Modern House in Turkiye with Imtilak

Urban development is taking place not simply via construction, but also through changes in social structures. In addition to architectural change, urban development causes economic changes. These changes create new opportunities for buying and owning property at favourable prices.

Imtilak Company offers you the opportunity to own a property in the most developed urban areas with an amazing view and modern amenities. Our real estate experts can show you the best way to invest in newly developed projects while taking little risk.

Contact us today and get a free consultation.
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