Increased Interest Rates
Loan interest rates have risen considerably nowadays. In this environment, consumer demand is not met. Housing builders who want to increase housing sales have launched various campaigns. Pre-sale projects were presented. Companies that have discounted up to 30 percent. They also offer interest-free installments. They extend their installment times up to 96 months. Prices start around 300 000 TL.
Housing sales in Istanbul have been quite stagnant these days. This is why high interest rates are being shown. Interest rates rose above %1. The consumer is affected. Promotional discounts were in the range of %5 to %10 for many residential projects that were pre-sold in autumn. But with recent campaigns it has been increased by %20. Now discount were in the range %25 to %30. The company was generally allowed to pay installments in 36-48 months. With the new campaign, interest-free installments began to be extended up to 96 months. Campaigns were also made for those who want to be homeowners, starting in 2019.
Most companies want to stimulate the market with new campaigns. One of these campaigns starts paying in 2019. Ege Structure is 2 minutes from TEM and offers two attractive new payment options at Kordon Istanbul in walking distance of subway. Those who want to buy a house from Kordon Istanbul give only 5 percent down payment. The installments can start to pay in 2019. Another option is to offer zero interest for 60 months. Ilgın Construction is carrying out a project with Gaziosmanpaşa Municipality partnership. Getting zero down payment under the agreement made with the Bank. The interest rate was determined as 0.89%. It offers the possibility to pay with a maturity of 120 months. There are many campaigns like this. People are very interested in these things.