Tuesday, 17 May 2022
WorldHousing support packages are expected to revive the sector and increase supply

Housing support packages are expected to revive the sector and increase supply

With 3 support packages for the housing sector, which President Recep Tayyip Erdoğan heralded after the cabinet meeting, it is aimed to increase the access of the citizens who will buy their first house with affordable loans, to support the Liraization Strategy, to increase the housing supply by completing the unfinished constructions, and to keep the housing prices of the supported companies. .

In this context, citizens who will buy their first and only house will be able to use housing loans with a maturity of up to 10 years and a monthly interest rate of 0.99 percent for first-hand houses with a price of up to 2 million liras.

Within the scope of the second package, a housing loan with an interest rate of 0.89 percent per month will be provided, provided that at least 50 percent of the housing value is met by selling foreign exchange deposit accounts (DTH) or scrap gold opened before April 1 to the Central Bank of the Republic of Turkey (CBRT). The application will be valid in new and second-hand houses.

Within the framework of the support for the construction sector, 20 billion liras will be allocated for the completion of projects, of which at least 40 percent have been completed and 50 percent have not been sold. Companies that have committed to keeping their housing sales prices stable for 1 year will be able to benefit from this support.

“The first spark for the solution of the housing supply problem”

Istanbul Builders’ Association (IDER) Chairman of the Board of Directors Nazmi Durbakyim made an assessment to the AA correspondent regarding the support packages, “The scope of the package announced by our President for the solution of the problems of our sector, while providing an opportunity for those who want to buy a house, will also be the first spark in the increase in the housing supply.” said.

Expressing that thanks to the announced alternative support packages, the interest burden will be reduced for those in need of housing, and access to housing prices that have increased in value due to costs will be facilitated, Durbakalım emphasized that it will also be an important move to bring stable investments such as foreign currency and gold into the real economy.

Noting that the sector will revive with the radical decisions taken in this period when many players withdraw due to circumstances, Durbakalım said, “We would like to underline that small and medium-sized housing producers are always ready to fix their square meter unit prices in order to contribute to the housing supply needed as long as the raw material prices are stable. ” he said.

Stating that the spark ignited by the introduction of bureaucratic channels and the financial support will turn into a torch, Durbakalım demanded that necessary arrangements be made so that companies that have given the support to the sector for many years but whose financial structure has deteriorated due to recent developments can also benefit.

“The market will move, we have seen an example of this before”

Boss4 Gayrimenkul’s Chairman of the Board of Directors Abdülkadir Akkuş also talked about the cost increases and the rise in prices, and said that for these reasons, sales in many projects could not reach the desired level.

Akkuş said, “We consider this announced package as an appropriate measure to activate the domestic market. Lowering the housing loan interest rates below the psychological limit of 1 percent will bring movement to the market. An upward movement will begin in mortgage sales. Housing loan interest rates will fall below 1 percent. We saw the benefit of this in the times when it went down.” he said.

Bahaş Holding Chief Executive Officer (CEO), Abdüssamet Bahadır, stated that a very important and advantageous campaign has been announced for citizens who will buy a house for the first time, and stated that this support will have a positive effect on first-hand housing sales, and that they have been waiting for such a campaign for a long time.

Expressing that especially those who exchange gold and foreign currency can use loans at a low cost of 0.89 percent, Bahadır emphasized that the support for urban transformation is very important for Istanbul, where an earthquake is expected.

“It will move the market”

Coldwell Banker Turkey Country President Gökhan Taş, on the other hand, stated that housing is the safest harbor against inflation and reminded that there was no decrease in sales figures even when interest rates hovered around 1.5 percent.

Talking about the decline in home ownership in the last 10 years, Taş said, “Therefore, as we have emphasized before, incentives should be given to those who buy their first house. The steps taken in this area and the provision of 30 billion liras of finance to TOKİ for social housing projects will activate the market.” used the expressions.

“It will have a brake effect on the uncontrolled increase in housing prices”

Özyurtlar Holding Chairman of the Board, Tamer Özyurt, noted that the new packages announced will activate those who meet the conditions and want to buy a house, and made the following assessments:

“We have emphasized from time to time that the housing loan interests should fall below 1 percent, now this demand has come true. In addition, a resource of 20 billion liras has been allocated for construction projects, of which at least 50 percent have not been sold. This will provide great support to projects with insufficient sales. Appropriate loans and supports to be provided for transformation will also increase the housing supply. This will have a brake effect on the uncontrolled increase in housing prices.”

“It is very important for the completion of unfinished projects”

Helmann Yapı Chairman of the Board of Directors Selman Özgün also stated that the supports are positive for the sector and said that they will make a significant contribution to the completion of projects that have been interrupted due to lack of cash.

Özgün said, “We all know how important low-rate loans are for owning a house. With the support, the supply will increase and support will be provided to those who want to buy housing for the first time with low-rate loans. Thus, the sub-sector of around 250 will be revived.” he said.

“No opportunism”

Gamador İnşaat Chairman of the Board Murat Karaarslan stated that they will participate in the special interest reduction campaign for those who buy the first house with all their projects and said, “In order to revive sales and provide citizens with access to housing, prices in excess of 2 million should be reduced.” used the phrase.

Explaining that similar campaigns should continue, to reinforce the belief in the sector and to create an environment of trust in all stakeholders of the real estate market, Karaarslan said, “On the other hand, these packages should not be abused. Our companies should not increase prices after such campaigns.” he called.

., . . (HAS) .. ..

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