Imtilak Properties

Turkey's real estate sector has played an important and vital role in turning the economy of Turkey rapidly after reaching the required level after the failed coup attempt on July 15 last year. In this context, the Government has undertaken numerous campaigns to support and develop the economy.

Turkish real estate companies and construction companies are now preparing to launch a package of offers to facilitate real estate ownership for individuals and investors alike. These companies plan to launch new offerings in September.

Companies will also work and collaborate with the banking sector in order to facilitate ownership by investors. The strongest offer in this context will be the possibility of buying projects via paying 20 percent of the price of the property in the form of an advance and paying the remaining 80 percent by using bank loans. In addition to the possibility of installment also by paying 5 percent of them in the first sale, and the division of the remaining 15 percent by easy installments.

The most striking detail in the terms of the offer is the possibility of postponement of the payment. The investor wishing to buy the property will be able to pay the installments starting from January 2019. The bank installments will be easy to pay in a manner that sets a higher ceiling for the increase that will be added to the installment amounts. The companies plan to start the offer on September 15 and will end on the fifteenth of next November. Agreements have been made in this context with four major Turkish banks, namely Bank Yapi Credi, Finans Bank and Akbank. Many other new banks are expected to join the loan.

The offer also provides an additional facility of a 15 percent reduction if the payment is made in cash. It is expected that these large real estate developments in Turkey will continue in the coming period in order to attract the highest number of investors.