Real Estate

Turkiye: What will be the scope of second-hand housing support?

The work on the support package for second-hand houses continues. The priority will be the citizens who will buy their first house. Details of the study are expected to be announced later this month.

President Recep Tayyip Erdogan, in his good news about second-hand houses, said, “A study will be carried out to support second-hand houses, the project planning phase is ongoing. We will share it when it becomes concrete. We give priority to our citizens who will buy their first house, to the supply of new housing. We want to increase production and employment by increasing the supply of new housing.”

The good news given by President Erdogan was received positively by the real estate sector. The range of work to be done is expected to be kept wide.

Sector representatives expect to facilitate access to finance in the campaign for second-hand houses.

“Access to finance should be easier, both in loan and down payment”

Making evaluations to TRT Haber on the subject, Real Estate Sector Representative Gokhan Tas said;

“Currently, the middle and lower middle income groups seriously need to buy real estate. The demand for the second l is very high. This project to be announced will cover everyone. If it will not be under certain conditions, then I really think that the needs of people in the market will be met.

If a 20% down payment is to be made, maybe a separate loan with three or four years of down payment. Such a thing can be implemented with a separate long-term loan model.”

Details of the study on second-hand houses are expected to be announced in February.

Source: Trthaber / Prepared by Irem Yildiz

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