The Istanbul Environment and Urban Planning Authority has auctioned 102 properties of Turkey’s national heritage. The objects are located in five districts of Istanbul: Atasehir, Kadikoy, Maltepe, Uskudar and Pendik. The cost of objects starts from 160 thousand liras, including state-owned objects for sale – residences and apartments, offices and shops. The most expensive object on the list costs 1.3 million lire.
It is reporte that it is possible to buy public real estate in Istanbul at an auction in installments for a period of not more than two years (with a down payment of one fourth of the total cost of the object). Residents of the residences and apartments put up for auction can buy them in order of priority.
It is also reporte that state-own real estate, which will be sold at auction, is further exempt from property tax for five years.