Sector representatives stated that the “My New Home” campaign, which was implemented with the new housing finance model for middle-income people, offers significant opportunities to middle-income people who want to buy a house, and stated that the sector will become active and production will increase. Nureddin Nebati, Minister of Treasury and Finance, and Murat Kurum, Minister of Environment, Urbanization and Climate Change, shared the details of the “My New Home” campaign, which was implemented with the new housing finance model for middle-income people. According to the Yeni Evim Housing Finance Program, the financing amounts to be provided by banks and participation financial institutions are maximum 5 million liras in Istanbul, which is the 1st Region, and 3 million liras in the provinces of the 2nd Region (Ankara, İzmir, Bursa, Antalya, Mersin and Muğla). for the (other) cities in the 3rd Region, a maximum of 2 million liras. In the campaign, where the minimum down payment rate is 10 percent, the interest/profit share rates will start from 0.69 percent in the financings to be provided with a maximum maturity of 15 years. With the financing model, which will be offered with ease of payment for the first 3 years with the support of the state and payment opportunities compatible with the household income throughout the loan term, it is aimed that all of the 100 thousand families will have their first-hand new homes in the first place. For contractors who make guarantor agreements with banks and undertake to produce houses by being included in the program, access to 25 billion liras of financing will be offered with the Treasury-backed KGF guarantee. Within the scope of the campaign, where price monitoring will be carried out meticulously, the persons found to have made an unfair price increase will be shared with the relevant units in order to take necessary action. The campaign for middle-income people who want to be homeowners for the first time will be available as of January 16. Stating that the campaign offers very important opportunities for the middle-income, sector representatives shared the view that the sector will be mobilized and production will increase.
“A campaign like this after a recession fires up the housing sector”
Istanbul Builders’ Association (IDER) Chairman of the Board Nazmi Durbakalım told Anadolu Agency (AA) that this program should be considered as a project that encourages and supports housing acquisition and production, rather than an ordinary campaign. “While everyone is waiting for a campaign that allows buying a house with low credit, we saw in details that there are important topics with a lot of social content that encourage housing production and financial support for housing purchase. After a stagnant period, such a campaign ignites the housing sector. Sector players return to their jobs. clings to it with greater vigor.” said. Expressing that they want this campaign to be permanent like a normal practice, Durbakalım stated that for this, incentives for reining and reducing the cost of land should be applied. Pointing out that the statement that those who make or tend to increase prices in the first hand will be followed closely is very important for price stability, Durbakalım said, “I think that private banks should be included in this project as well as public banks for the campaign to be successful at a high level.” he said. Referring to the importance of the low interest application, Durbakalım said, “The application will enable the housing companies, which are not included in the campaign because they do not meet the conditions, to start their own special low interest sales campaign by giving a contribution.” used the phrase.
“Both social needs will be met and production will be supported”
Mehmet Kalyoncu, Chairman of the Board of Directors of the Real Estate Investors Association (GYODER), stated that the real estate sector has been locked in this loan campaign for a while and said that the announcement of the campaign relieved the home buyer and developer. Expressing that in an environment where housing needs all over the world are difficult to meet, Kalyoncu said that the state has shown a very important social support at this point with the programs it has put into practice one after the other, and continued his words as follows: At this point, while our government has taken these steps, we, as the business world, should approach the issue from a social and social perspective. The announced campaign is a system that will support first-hand and facilitate access for first-time homeowners. While a loan facility where people can pay interest with their monthly income supports the first-hand market and production. “The social and socio-economic contribution will be increased by creating special criteria for those who will buy a house for the first time. The announced decisions are very positive steps for those who will own a house for the first time.” Kalyoncu noted that thanks to the campaign, both social needs will be met and production will be supported, emphasizing that the program will revive the real estate sector. Pointing to the production appetite of the sector, Kalyoncu said, “While the state is taking the steps to be taken rapidly, the private sector must also do its part. As GYODER, we will be with our people and the state with a new business model in the housing development processes with the accessible rental housing model.” he said.
“It will mobilize the housing supply, which has come to a standstill”
MasterTürk Group President Gökhan Taş talked about the positive impact of the “New Home” campaign on the sector and said, “The most important aspect of the campaign is that it encourages the supply that has come to a standstill. In this way, it will ensure that the housing prices remain sustainable in the medium term.” he said. Stating that it is very important for the country that the supply continues in a balanced and sustainable manner in every city, Taş said that there is a minimum demand for 1 million housing each year, and this figure approaches 1.5 million together with the demands for needs and investment purposes.
“The application of credit according to income will open the bottleneck in the sector”
Ziya Yılmaz, Chairman of the Board of Directors of DAP Holding, stated that the campaigns aimed at the housing sector give strength to the Turkish economy and talked about the contribution of the sector to the economy. Yılmaz said, “The summary of this campaign is that whatever is being applied in Europe right now, long-term housing loans for a period of 180 months are given in our country as well. It is an approach that nourishes all stakeholders. I think that the home buyer should know that this is a very good opportunity and should not miss this opportunity.” he said. Tamer Özyurt, Chairman of the Board of Özyurtlar Holding, stated that thanks to the campaign, the opportunity to reach loans under favorable conditions was provided and made the following statements: “It will also be a comforting practice that a certain part of the monthly installment amount to be paid by the citizen in the first 3 years is undertaken by the ministry. I believe that this campaign, in which the financing model to be determined according to income, is planned, will make a sound. Credit application according to income will open the bottleneck in the sector. A serious segment is waiting for this campaign.”
“Contractors will complete the project quickly”
Bahaş Holding Chief Executive Officer (CEO) Abdüssamet Bahadır said that the interest of foreign investors has kept the sector alive so far and that domestic sales have been stagnating for a while. Stating that the loan interest rates to be determined according to household income with the announced campaign will bring movement to the sector and the waiting sector will take action, Bahadır said, “In addition, the 25 billion TL Treasury-supported KGF package to be offered to the contractors will provide an important support to the housing producers. It will also find its new home with affordable interest rates. It was a campaign and support package worthy of the Century of Turkey.” he said. Boss4 Gayrimenkul’s Chairman of the Board of Directors Abdülkadir Akkuş noted that both producers and those who want to buy houses should be supported in order for the sales figures to reach the desired level. said. FKG Construction General Manager Sedat Al stated that the aim of the campaign is to provide an advantage to new home buyers and added that it will add momentum to the sector. Al said, “People couldn’t buy housing because they couldn’t access money. Now access to finance and payments has been facilitated. Our industry will regain its former vitality in 2023.” he said.
A professional writer by day, a tech-nerd by night, with a love for all things money.