Tesk President Palandöken: "Discount campaign in the renewal of housing" – Ankara

should be extended to the campaign business, including interest rate cuts, especially in the housing sector for the survival of the market stresses that the Confederation Turkey Traders and Craftsmen (TESK) President Bendevi Palandöken , "The rise in residential sales, keep alive the market and a very important point, especially for our economy. In recent months, banks have had to put their hands under the stone at the housing rate and lower prices for homeowners have had positive results. These interest rate cuts and home sales campaigns are expected to continue for at least 3 months, if not continuously.

"The reduction of interest rates on mortgages has had positive results"

Palandöken said that the sale of housing had the direct effect of lowering mortgage interest rates more May rise. borrow from the bank rather than accumulate the house. These high interest rates in banks force the citizen, afraid to be a host. We have already underestimated the need to reduce housing loan rates and high prices in the construction sector. Banks and the construction sector fell on these rates and selling prices on May 10th. This has been reflected positively in the market. For example, home sales declined 9.9% in April from the same month a year earlier to 103,887, up 2.7% at the end of May, to 119 555.

"If the reduction in interest rates continues for some time, the markets will be comfortable."

Palandöken said that house prices and credit interest rates should continue to fall, "The construction sector influences itself and many other sectors as a chain.Before and after the construction, the real estate industry, traders and the transport sector have a positive impact.The trader from the place where it is built also wins, transport lines are built, the taxi citizen, dolmuşu, barberi and grocery store contribute to both the esnaf and the economy.The continuation of the reduction campaign in the interest rates on discounts and real estate loans, the pursuit of at least 3 months even if it is not permanent, will revive the direct markets.Even in a short time, the positive effect of this reduction can be understood by the fact that houses sold for the first time at the end of May have increased compared to the same month of the previous year. Simultaneously reduce interest rates and housing reduction campaigns to supplement the $ 2 million housing stock. "