My New Home Housing Finance Program Will Accelerate the Circulation in the Real Estate Sector

The details of Yeni Evam Housing Finance Program have become clear. Very attractive conditions such as 0.69 interest rate, maximum maturity of 15 years and 10% down payment rate are offered. First of all, the people who will benefit from the campaign must not have homes already, have not sold housing in the last year in the city where they want to buy the new housing, and not sell the house they bought for 5 years. Among the criteria is that the housing to be purchased is zero, housing with social facilities, suitable for earthquake regulations, zero waste and energy efficiency.

Stating that the conditions of the new loan campaign are very attractive and it is very correct and proper to add some usage criteria to ensure that the target audience uses it, Görkem Ögüt, Co-Founder and General Manager of Indeksa.com, said, “When evaluated from all aspects, the new housing loan campaign is very well thought out, planned for the benefit of the citizen who really needs it and is planned for the sector We think that it will be a positive contribution. Within the scope of the campaign, citizens will be able to use loans only for completed, completed at a certain rate, suitable for credit issuing criteria of banks and housing to start construction. We have been saying for some time that one of the important reasons for the price increase in the housing market is the decline in supply. According to the Endeksa data, as of the end of December, the annual value increase in housing sales prices across Turkey is 185% and the annual value increase in rental values is at 160%. In the residential sales in 2022, the sales rate of zero housing is only 30%. Therefore, we see that with this campaign it is also aimed to accelerate the sale and production of zero housing. This is a very positive development in terms of the sector.”

In the campaign, which is planned to host 100 thousand families in the first place, the credit limits determined by dividing into 3 regions seem quite attractive and appropriate, Ogut said, “According to the Endeksa data, the average housing price throughout Turkey is 1 million 720 thousand TL, the average housing price in Istanbul is 2 million 650 thousand TL, Ankara 1 million 336 thousand TL, in İzmir If 2 million 239 thousand TL. The question that comes to everyone is, will this campaign cause housing prices to rise, as in previous housing loan campaigns? I don't think the campaign will have much impact on all housing prices, given that it is limited to only a certain target audience and zero housing. People who already have housing can sell their dwellings and turn to zero residences in provinces outside the province where the sale is made and provide the criteria for benefiting from the campaign. So there will be mobility in the housing market in the form of a sale, purchase. In addition, on the side of zero residences and ongoing construction housing, it will also be possible for the already low-priced ones to rise towards the established credit limits.”

Residential Sales Prices by Provincial