Real estate sector representatives anticipate a record in bank loan housing sales. Stating that there is an increase in housing sales with the interest rates falling to 0.79, sector representatives expect 500 thousand houses to be sold on credit this year. Coldwell Banker Country Turkey Gokhan President Taylor, the outgoing Central Bank’s policy interest rate cut in the discount strategy considering that exploded in bank credit to housing sales in 2020. Reminding that the Central Bank cut the policy rate by 75 basis points in January this year and 50 points in February this year, decreasing the policy interest to 10.75 percent, “This year the average housing loan interest rate is currently 0.98 percent. However, it is predicted that this will decrease further. Therefore, approximately 200 thousand more housing with bank loans will be sold this year compared to last year, ”he said.
Emphasizing that the mortgage loan interest rate of about 0.50 percent triggered approximately 200 thousand housing sales, Taş said, “As a matter of fact, 473 thousand houses were sold with mortgages while the average interest rate was 1 percent in 2017, we see that 276 thousand houses were sold in 2018 with an average interest rate of 1.5 percent. . Again in 2009, while the housing interest rate was 1.3 percent, 22 thousand bank loans were sold. In 2010, the housing loan interest rates were reduced to 0.9 percent and the number of housing sales with bank loans exceeded 246 thousand. We can see a similar trend in 2012-2013. In 2012, the average housing loan interest rate was 1.03 percent, while 270 thousand bank credit home sales were made, in 2013, the housing loan interest rates fell below 1 percent for the first time, and the average was 0.80 percent. The number of houses with bank credits sold was 460 thousand ”, he said.