As the interest rates on the housing loans have increased, it is stated that the sales of the notes increase parallel to this. Real estate firms are looking for alternative ways to raise sales, with housing loans peaking at an annual rate of 1.23 percent over the last 8.5 years. In this context, the companies sell 60-month interest-free bills, trying to keep the sector alive.
This issue was also frequently covered by the participants at the Bursa Construction and Decoration Exhibition and also at the Bursa Rising City Real Estate Fair organized by Bursa Chamber of Commerce and Industry (BTSO) and TUYAP.
Real Estate the Leading Sector In Turkey
Bursa Real Estate Advisors Chamber Chairman Erdal Celebi, said that real estate is among the leading sectors in Turkey.
Çelebi, reminding that the interest rates on housing loans have increased recently and said that; “The producing people are obliged to find the market area for themselves. Increase in interest rates, 1.20 levels of the sector is getting into trouble, but this will also take measures are the dynamics within these sectors. How do we make people own property with less cost. Within this scope, big companies are trying to maintain continuity by selling their shares. They attract people.”
Investigate Each Other During the Sale
President of the Chamber of Real Estate Agencies of Izmir (İZEKO) Mesut Güleroğlu also voiced that the parties had to investigate each other well during the sale of the bills.
Güleroğlu conveying his continuing mobility in the real estate sector and said; “Interest rates have risen, and companies are turning to sticker sales from the moment they see the guarantees of their counterparts. Since there is no interest rate on senesy sales, the investor is also attractive. If you have the power to pay, you are shopping with the bill. The aim is to revive the market. Certainly this type of sales will be positive for the market. However, when installments are not paid, we do not want cooperative cemeteries in 1980 and 1990 years. Interest rates on housing loans are high but prices are low now. It needs to be evaluated well.”