The sector representatives of REAL ESTATE have pushed the button to melt stock houses and to mobilize the market. All stakeholders in the sector came together and a new campaign was prepared. The Ministry of Environment and Urban Development also supports the campaign that will be announced tomorrow. Real Estate Housing REIT will be involved in a number of companies and project campaigns with the three roof associations of the sector, house builders and investor association (KONUTDER), İstanbul Constructors Association (İNDER) and Real Estate and Real Estate Investment Trust Association (GYODER).
THE MINISTER IS EXPECTED
It is said that the biggest obstacle for citizens to buy housing is interest rates of more than 2 percent. Companies are planning to include interest in their own structures without banks for up to 120 days. Another important step is a discount. The companies offer a 10 to 20 percent discount on house prices. 20 percent of the down payment percentage is used to take 10 percent of the remaining difference in the form of interim payments. Focus on a citizen with accumulation of bottoms, focused on a two-month campaign, with income from dollars or gold, to the real estate market. All details relating to the campaign will be announced tomorrow during the meeting of the Minister for the Environment and Urban Planning Murat Kurum and the sector representatives.
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Three roof associations representing the real estate sector, KONUTDER, GYODER and İNDER, also campaigned between 15 May and 15 June. Representatives of the real estate sector announced a 20 percent discount on upfront purchases when the interest rate was raised to 0.98 percent, led by public banks. The deposit was also reduced to 5 percent. More than 100 companies participated in the campaign to create mobility in the housing market. The campaign was extended to 30 June with a sales volume of 8 billion. But in that campaign, the banks offered interest. In this campaign, both interest and discounts are made by companies.
Real Estate Bank expectation
Emlak Bank, which canceled its banking authority in 2001, has been active for 17 years. The new name, Emlak Bank, is expected to take important steps for both the property market and the citizens. Last week, the Ministry of the Environment and Urban Planning and the Treasury and the Ministry of Finance requested stock information from real estate companies. Both ministries work to ensure the availability of these shares and cash flow. It is on the agenda to acquire these properties on the capital market via a fund that is yet to be set up. Another expectation is that the real estate bank takes stock of companies with certain discounts and sells them to citizens in appropriate circumstances. Another expectation of the ministry is to stimulate citizens with the first house.