President Recep Tayyip Erdoğan made important statements after the Cabinet meeting. President Erdoğan, who was in front of the cameras after the critical meeting, announced the good news of housing finance to be provided by the state with appropriate loans and interest rates. So, what is the interest rate of a home loan? How many years will the maturity of the mortgage be? Here are the statements of President Erdogan!
WHAT IS THE INTEREST RATE OF THE HOUSING LOAN? HOW MANY YEARS WILL THE HOUSING LOAN EXPECT?
Making statements after the cabinet meeting, President Recep Tayyip Erdoğan said the following regarding housing finance assistance:
“In order to protect our fellow citizens from fluctuations in the housing industry, we offer three distinct packages to serve our nation.
First; We provide housing loans with a maximum term of 10 years and a monthly interest rate of 0.99% to our fellow citizens who will be the first and sole owner.
With more than a million houses in our country, we have made our fellow citizens owners on favorable terms. Due to exorbitant increases in commodity prices in the global economy, home sales have declined. We offer 3 different packages for housing finance.
It’s about our companies wanting to buy and build houses. We have made our citizens owners with 1 million 100,000 residences.
We will put in place a series of measures to protect supply in the housing sector from fluctuations. 3 packages on housing finance.
In the first package, we will provide a 2% credit for first-hand housing up to 0.99 million lira to our citizens, who will be the first owners.
In the construction sector, we have allocated a resource of TL 40 billion for the completion of construction projects, of which 20% was completed in May.
Thus, we aim to quickly complete projects under construction, increasing the supply of housing and stabilizing prices in the short term.
We are also accelerating TOKİ projects. We will provide TL 30 billion support to TOKİ for projects aimed at making low-income citizens homeowners.