A Finance Model for Urban Regeneration: Real Estate Certificate

Abstract

The construction sector is developing and growing together with the sub-sectors it depends on. Overall, macroeconomic balances have positive effects on employment, growth and development, with improving effects. The construction sector, which is one of the most important indicators of economic vitality, has become even more important nowadays with urban transformation activities. Renewal, transformation and remediation have been implemented in many countries in the world in recent years due to economic and social, population densities and natural disasters in our country. In Turkey, some legal arrangements have been made in order to improve the urban transformation applications. Within the said legal arrangements, the costs to be generated by urban transformation have not been determined. In this study, a financing model is proposed for the costs that will arise through urban transformation.