Anyone Who Buys Home With Lottery Became to be Investor Over Profitability

Houses sold by lottery was the investment vehicle by Residential Property (Emlak Konut) and Housing Authority (TOKI). Houses for having narrow and medium income are selling with the ‘transfer price’.

Sales cycles has overtaken the usual sales at the real estate offices of Istanbul Basaksehir. The required transfer fee find appoximately 150 thousands liras for one 1+1 house.

According to news of Gülistan Alagöz from Hürriyet, Houses sold by lot by Housing Authority and Residential Property became a favourite for investors than owner. Anyone who has these houses with lottery turnover as adding to the profit margin. A fair price, without the use of bank loans and the payment of installements commencing on delivery makes it attractive to these homes. In some sales specification of these homes have transfer banuntile delivered, some do not. The houses which makes free transfer fast progressing process. Moreover, the places where prohibited contracts in progress by notary voluntary.

Receiever wants transfer home

Office employees real eastate operations in region says that the most traded is the transfer process. In addition, because of increasing of interest rates and prices increasing effects selling in the normal way. A man who owner of real estate office supports and said  that ”Draw with the intense participation in home sales, this is a large part of that group of investors and real estate agents. For example: In Emlak Konut Basaksehır homes, at the beginning of the stage has transfer, however when it became to spread at the second stage is prohibited sales to the third person until delivered. At the first stage, the anyone who wins the lotteries according to the homes gives 20 or 30 thousands lira advance payment and get homes. Now, they transfer to these homes 125 – 150 thousands for 1+1, 175 thousands for 2+1, 230 thousands liras for 3+1. Basaksehir regions make serious primary and receiver get to profit and transfer its home with this primary.”

We are trying to prevent second hand

The president of the Housing Authority M. Ergün Turan said that we reached that anyone who have narrow income became to get home and also he added that ‘we  put the some of the rules in agreement for the home find the real owners in process. By the way, sometimes, we aware that some conditions break the agreement. For removing like these issues, we are sending reports and causing. If it still continue without any rules of engagement, then legal process is starting.

Mr. Turan says “the citizens who gets lower income does not have to right for selling or transfer their home. In addition he adds “we are putting some rules in agreement for the house find their real owners. Such as: In general of Turkey should not be any other real estate, the total household income should not be under the 3.200 tl (For Istanbul is 3.700) and accommodation has to be inside. This agreements which includes some of the rules for narrow incomes, at the same time have some items.” Turan says more “we are following the conditions according to the rules of agreement and really we are focusing that the home have to find their real owners. For obtain, we are not just signing the agreements, by the way, we are checking that some of the advertise methods. Our goal is to prevent the creating of second hand marketing.


We can not interfere

The General Manager of the Residential Authority who Murat Kurum says: ‘the housing receivers should avoid from the houses which have transfer ban. The explanation which organize by Residential Authority includes these: “government has increased the price of our projects in these areas quickly infrastructure projects to be launched in a very short time. When we look at the price index published by the Central Bank, we see that the annual average of 23 percent increase in price in Istanbul. The city where have new infrastructure investment increases it’s rates and when we check the other investment tools, it is looking more increase for variable increase than others. Home buyers also go to the cycle path to benefit from those price increases. Although a certain amount of time we put in a transfer prohibition in the contract of sale buyers outside of us is to speed through a notary. Our debt to intervene in this era of freedom of contract in accordance with the provisions of the law and not subject to market conditions . ”


Note revving sales

Real Estate Law Lawyers Association President Ali Güvenç warns recipients for sales cycle. “the title transfer is mainly in real estate trading.Exemptions also are sales agreements to be made by a notary.  Entitled to make that promise to sell the land to be essential. Otherwise, the person with notary deed sales made a promise to the demand from non- eligible person is not able. If there is power in the sales cycle promises land rights taken over from these people in the future can be requested when it occurs . But will not be entitled to transfer the contract with this ban will not be accepted and will be legally and practically formed in this way is a serious crime if the person has more than one person.”

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