Zoning Plan Changes: 90% of Value Increase Goes to the Public

Ministry of Environment, Urbanization and Climate Change has implemented a new regulation regarding the value increases of real estate resulting from zoning plan changes in Turkey. With this regulation, the value increases resulting from zoning plan changes made at the request of property owners will be transferred to the public.

The newly published ‘Value Increase Share Implementation Regulation’ aims to ensure that this process is carried out transparently. Generally, zoning plan changes create a higher land value, and transferring 90% of these value increases to the public will contribute to establishing a fairer system.

An important aspect of this regulation is that it takes into account not only standard value increases but also density increases exceeding 20%. In this way, a portion of the revenues obtained as a result of more intense and diverse zoning practices will be directed towards projects that serve the needs of society.

Along with the implementation regulation, the processes for finalizing the value increases to be calculated after zoning changes have also been clarified. Property owners will be clearly informed during these processes, and the share to be transferred to the public will be determined. Thus, it is aimed to use the economic values arising from zoning changes more effectively for the benefit of society.

In conclusion, it is expected that this new regulation will trigger a significant transformation in the sector. The value increases in the real estate market being allocated not only to the private sector but also to the public may provide positive contributions to urbanization processes in the long term.