The recent changes in urban transformation affect millions of housing units across the country.

In urban transformation practices, the guarantee rate taken over the approximate cost of the construction has been reduced from 10% to 6%. The change made in the implementation regulation by the Ministry of Environment, Urbanization and Climate Change has been published in the Official Gazette.

The regulation that amends the implementation regulation of the Law on Urban Transformation No. 6306 has been published in today's issue of the Official Gazette. With the new regulation prepared by the Ministry of Environment, Urbanization and Climate Change, the mandatory guarantee rate that companies will pay over the approximate cost of the construction in urban transformation practices to be carried out in risky areas, reserve building areas, and parcels containing risky buildings has been reduced from 10% to 6%.