Areas under urban renewal in Balıkesir, financial models, and what investors need to know.
What Is Urban Transformation?
It is the process of renewing risky buildings under Law No. 6306 on the Transformation of Areas Under Disaster Risk. In Balıkesir there are active projects in many areas, Karesi and Altıeylül in particular.
Your Rights as an Eligible Owner
- Right to an independent unit in the new building (equivalent or additional m²)
- Rent assistance (for the duration of the project)
- Loans supported by the municipality / TOKİ (Housing Development Administration)
- Interest-free loan options
Contract Clauses to Watch Out For
In the flat-for-land agreement with the contractor, the delivery date, late-delivery penalty, m² exchange ratio and definition of common areas must be clear. Do not sign on your own — always get legal advice.
