Delight At The Housing Interest

The interest discount of the Central Bank, brought stronger expectations of a redound in the interest rates of the housing credits.The bosses of real estate said that this year will be a record sale in housings than the last year because of the reducing in housing credit interests.

Turkey's Central Bank headquarters is seen in Ankara January 24, 2014. Turkey received a vote of confidence in its underlying economic health on Thursday, with foreign investors lapping up a $2.5 billion eurobond issue even as a corruption scandal swirled and the central bank intervened to prop up the lira. The graft investigation, one of the biggest threats to Prime Minister Tayyip Erdogan's 11-year rule, has shaken Turkey in recent weeks, helping send the lira into a tailspin and heightening uncertainty ahead of elections this year. REUTERS/Umit Bektas (TURKEY - Tags: POLITICS BUSINESS ELECTIONS)

The half point interest discount of the Central Bank, powered the expectations of a redound in the interest rates of the housing credits.In the Money Politics Assembly(PPK) meeting which was performed by the Central Bank of the Turkish Republic happened the expected thing and the Central Bank reduced the upper band of the interest corridor in a 50 base point to pull it down to 10 percent.The interest rate discount satisfied with hope the real estate developers and the ones who want to buy a new housing.The main names in this sector say that this is the first step and expect that the housing credit interest rates which are right now in a 1,15 -1,20 level will reduce to under 1 percent in a close term.


The General Director of Estate Housing (GYO) Murat Kurum stated that it was a half point reduce expected before the decision of the interest discount and also added that they expect the housing credit interest rates to decrease under 1 percent.Kurum, ” The market can bring the housing credit interest rates to a 1 percent level together with a possible interest discount in a short term.But we have to sense also that the interest cant suddenly go up and down from yesterday to today.In the progressive progress this could be a more or less.But we would go to a wrong way if we give the whole market expectations about the interest discount.We have to be sensitive.”

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