The Turkish government has taken steps to support the real estate sector, in particular, provided a convenient option for buying a home on favorable terms. Now it is possible to buy real estate in Turkey on the terms of mortgage lending with a reduced interest rate.
Since June 1, 2020, the authorities of the republic have launched the "Housing Finance" program. Three state-owned banks participate in the program: ZIRAAT BANKASI, HALKBANK and VAKIFBANK. As part of the program, interest rates on mortgage loans are reduced as much as possible. It should be noted that this is the biggest reduction in rates in the history of mortgage loans in Turkey. When buying a primary home with a mortgage, the following rules apply: 1. a mortgage loan is given for a period of 15 years 2. the grace period is up to 12 months 3. the interest rate is 0.64% per month 4. the initial payment must be at least 10% of the value of the property 5. the mortgage loan is given in Turkish lira When buying real estate on the secondary market: 1. the mortgage loan is given for a period of 15 years 2. the grace period is up to 12 months 3. the interest rate is 0.74% per month 4. the initial payment must be at least 10% of the value of the property 5. the mortgage loan is given in Turkish lira Another rule. A mortgage loan can be taken in the amount of up to 750 thousand Turkish lira in Istanbul, Ankara and Izmir. When buying real estate in other provinces of Turkey, a mortgage loan on the above conditions is given in the amount of up to 500 thousand Turkish lira. It should be noted that only residents of Turkey can take out a loan on the above preferential terms, such an opportunity is not yet provided for foreign buyers. Immediately after the reduction in interest rates, the number of applications for mortgage loans in Turkey has increased significantly, everyone is trying to take advantage of favorable conditions, which, for sure, will no longer be. In recent weeks alone, mortgage sales in Turkey have increased by more than 100%. And the growth continues. In addition, due to the growing demand for housing, prices have also begun to rise. Now the government is taking a number of measures against artificial and unjustified overestimation of the value of real estate. Thanks to the timely support measures taken by the Turkish authorities, the Turkish domestic real estate market has now significantly revived. In addition, such active government assistance in difficult times for the sector suggests that buying real estate in Turkey is always cost-effective and reliable.
At any time, even in a crisis, an apartment or villa in Turkey can be sold profitably, and at a cost exceeding the one for which it was bought. The company Homes turkey will help you in buying real estate in Turkey. We offer various types of housing, including investment projects that will bring a good profit.
Contacts for communication:
Write to WhatsApp
Write to E-mail
Or use other communication methods listed on the site.