Both the housing buyer and seller waits that the interest decreases

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After the interest discount of the Central Bank of the Turkish Republic, the eyes turned to the banks in the real estate sector and the buyers and sellers in housing sector want this discount to reflect to the credit interest rates.
An expectation occured by the housing buyers and sellers that the credit rates will decrease because of the 75 base point discount on the upper band on the interest corridor in 2 months made by the Central Bank. Both the producers and consumers in housing sector expect that the banks go into an interest discount immediately.

budget calculation
The representatives of the housing sector, evaluated the move of the Central Bank in the Money Politics Assembly(PPK) meeting to Anadolu News,because of the decrease of the upper band in the interest corridor from 10.50 to 10 percent.
The Board of Directors President of Istanbul Constructioning Union Nazmi Durbakayim,determined that the real estate sector is too sensitive against the housing credit interest rates.He said that the reduce of the interest will provide in a short period the demands which are in doubt.
“We expect that the interests reduce to 0.50 -0.60percent ” Durbakayim stated that the ones who have housing credit take care especially of the stability in interest rates and also informed that the fluctuation in interests cause the buying demands to remain suspended.

Nazmi Durbakayim says that, if the interest rates reduce then the mortgaged sales which decreased last year in its housing sale rates will cause that its share in total will increase over 40 percent.Durbakayim also said that,if the interest decreases to this level it will mean that the interest factor will also dissapear which is an important expense while owning a housing.

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