Turkey's TOKİ launches massive property auction and cheap rental housing program

The Turkish Housing Development Administration (TOKİ) announced a nationwide auction of 540 real‑estate units – 235 residential apartments and 305 commercial properties – across 51 provinces. The auction will be held on 19‑20 August 2026 at venues in Ankara and Istanbul, with a total estimated value of about 2.987 billion TL. Prices start at 700,000 TL, with down‑payment options of 10% for commercial units and 25% for residential units and repayment periods up to 120 months.

In a separate but related initiative, President Recep Tayyip Erdoğan unveiled a cheap‑rental housing scheme for Istanbul. The project will provide 15,000 socially priced rental apartments, with applications opening in September 2026. Allocation will be decided by a lottery, and rents will be set below market rates to assist low‑income families, retirees, civil servants and other vulnerable groups.

Both programmes are part of the government's effort to increase affordable housing supply and stimulate the real‑estate market.