Sales Increased as Interest Rates on Real Estate Loan Decreased

Sales Increased as Interest Rates on Real Estate Loan Decreased

Private banks have joined to interest rate-cutting campaign on mortgages initiated by public banks.

The number of property buyers increased.

Those who want to own real estate have began to use loans due to reduce interest rates and restructure loans.

The number of real estate companies’ visitors has increased as public banks offer up to 500 thousand TL loans, increased the installment period to 180 months, and cut interest rate to 0.99%.

According to the news, while interest rates on real estate loans ranged from 1.34 to 2.25% on August 21, interest rates fell on October 11 and became (0.99 – 1.85%).

As of October 11, public banks offer the lowest interest rate on real estate loans.

Kuveyt Türk Participation Bank offers the lowest interest rate among the private banks with 1.11%. Deniz Bank cut interest rates on loans from 2.05% to 1.37%.

Read also: Real estate loans reached 187 billion TL in October

Opportunity to Restructure

Anadolu Bank had the highest interest rate on loans with 1.85%.

Ziraat Bank, VakıfBank, and Halkbank provide the opportunity for customers using housing loans under 500 thousand TL to restructure their loans and reduce the interest rate to 0.99%.

Edit by: Realty Group

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