New Housing Campaign by Emlak Konut GYO: Lower Interest Rates, Extended Terms, Expected Discounts

Emlak Konut GYO (Real Estate Housing Investment State Co.), a subsidiary of the Ministry of Environment, Urbanization, and Climate Change, is launching a new housing campaign. Details of this campaign will be announced today. The campaign will lower loan interest rates to as low as 1.20%, extend payment terms up to 72 months, and offer discounts for cash payments.

Challenges in the Housing Market

Due to rising prices and high-interest rates, owning a home in Turkey has become increasingly difficult. The interest in alternative investment options has also diverted investors away from real estate. This situation has led buyers to adopt a wait-and-see approach, causing stagnation in the housing market.

Campaign Objectives

The new campaign aims to rejuvenate the sector and improve housing purchase conditions. Emlak Konut GYO’s General Manager, Cengiz Erdem, will reveal the campaign details.

Lower Interest Rates and Extended Terms

According to Hürriyet Newspaper, the campaign will reduce loan interest rates from over 4% to a range of 1.20%-1.50%. The payment terms will be extended to 72 months. The campaign will also offer options for periodic lump-sum payments and increasing installment plans.

Expected Discounts for Cash Payments

The campaign’s goal is to make monthly payments more affordable. It is expected that cash payments will receive a discount of 20-25%, provided they do not fall below the appraised value. Projects owned by Emlak Konut and some revenue-sharing projects will be included in the campaign.

Previous Campaigns

In previous years, Emlak Konut has launched similar campaigns that reduced down payments and interest rates, extended payment terms, and even postponed payments. These campaigns have attracted significant interest.

By implementing these measures, the campaign aims to make homeownership more accessible and stimulate the housing market.