Housing campaign for middle-income people

Details are being announced for the middle-income housing campaign. Minister of Treasury and Finance Nureddin Nebati had stated on Bloomberg HT that the interest rates in the campaign would be below 1 percent. Minister of Environment, Urbanization and Climate Change Murat Kurum and Minister of Treasury and Finance Nureddin Nebati are explaining the details of the middle-income housing campaign. Minister Nebati took the first floor in the presentation of the campaign. The prominent statements in Nebati’s statements were as follows: We are launching a new long-term campaign aimed at our middle-income citizens. The campaign is quite advantageous compared to market conditions and there will be easy payment options for 3 years with the contribution of our ministry. Within the scope of our program, Istanbul has been determined as the 1st Region; Ankara, Izmir, Bursa, Antalya, Mersin and Muğla as the 2nd Region, and all our other provinces as the 3rd Region. Within the scope of our program, Istanbul has been determined as the 1st Region; Ankara, Izmir, Bursa, Antalya, Mersin and Muğla as the 2nd Region, and all our other provinces as the 3rd Region. The financing to be provided within the scope of our program is for zero-rent housing. In order to benefit from the program, we take into account the total household income. Those who will benefit from the program must not currently own a house and must not have sold a house in the province where they will buy a house in the last 1 year. In addition, citizens who want to buy a house in the provinces of Region 1 (Istanbul) and Region 2 (Ankara, Izmir, Antalya, Bursa, Mersin, Muğla) will be required to have resided in these provinces in the last year. However, there will be no residency requirement in the provinces of Region 3. Houses purchased cannot be sold for 5 years. The minimum down payment rate has been determined as 10 percent in all regions. Interest/profit share rates will be applied starting from 0.69% in financings to be provided with a maximum term of 15 years. As the Ministry of Treasury and Finance, we will undertake a certain portion of the monthly installment amount that our citizens will pay in the first three years, provided that it is repaid before the total term of the loan ends. With this contribution we will provide, we will significantly reduce the installment amounts for the first three years and thus, we will ease the burden of our citizens while they wait for their houses to be completed. Within the scope of our program, our citizens will be able to use credit for houses in 3 different stages. o First, completed houses. Second, houses that are completed to a certain extent and comply with the lending criteria of the banks. Third, houses that will be started to be built. In the first two cases, if the conditions of the house and the applicant are evaluated by the relevant bank as suitable for lending, financing opportunity and our Ministry's contribution will be provided within the scope of the Program. In the third case, which covers newly started projects, the main criterion will be that the housing project of which the house is a part is evaluated by our banks as suitable for lending. In this case, in order for the project to be included in the scope of this program, the bank will need to sign a Guarantee Agreement with the contractor on a project basis. In this way, the opportunity to use housing credit before the foundation of the construction is laid will be created. In this context, we will also provide access to an initial financing of 25 billion Turkish Lira with Treasury-Backed KGF guarantee for our contractors who have signed guarantee agreements with banks and committed to producing housing within the Program. In this context, we will also provide access to an initial financing of 25 billion Turkish Lira with Treasury-Backed KGF guarantee for our contractors who have signed guarantee agreements with banks and committed to producing housing within the Program. Another important goal of ours within the scope of the Program is to increase the housing supply in a balanced and sustainable manner. Thus, we aim to minimize the periodic rapid increases in housing prices in the medium term.