These days, when we are approaching the end of 2019, a new year and approaching 2020, the fact that the summer and wedding season starts in a few months affects the real estate sector in particular. However, the fact that the investments in the real estate area have been slowing down in recent days, an increase in the exchange rates, and therefore the increase in the costs has caused some problems in the housing sector.
Unfortunately, when the increase in housing loan interest rates was added to these developments, the sector was seriously activated. As we made an assessment on this issue before entering 2018, we will seek answers to the question of whether housing loan interest rates decrease in 2020 and we will try to share our ideas in the light of some indicators according to the current trend.
Will there be a decrease in housing loan interest rates?
Around 2016, President Recep Tayyip Erdogan ‘s orders to cut interest rates to the bottom levels first set the banks in motion. Interest rates ranging from 1.20% to 1.25% declined to 0.8%. Other banks, which naturally saw this decline, took action and simultaneously decreased interest rates on all housing loans. In this process, which was under this scope, it was made possible to withdraw a loan at a rate of 0.80%.
While the full market will take a comfortable breath with the removal of OHAL at that time, unfortunately, the increase in the exchange rate in 2018 caused the expectations in this direction to be wasted. Due to the interest rate hike, which was one of the first instruments used in the intervention in the exchange rate, interest rates in housing loans had even exceeded 2% in some banks. However, after the Central Bank’s amendment, after a decrease in interest rates in general, there was a decrease in housing loan interest rates.
As of today, housing loan interest rates are between 1.3 and 2. It is expected that these interest rates will continue to decrease for 2020. However, with the lowering of interest rates, it is possible that different developments will occur in the economy.
Exchange Rate Matters
Yes, we can say that in order for interest rates to decrease in our country, stabilization and a decrease in exchange rates are required. Since there is already high anti-interest economy management with the falling exchange rate, it may be possible to increase the interest rate. However, of course, at this point, it is necessary to closely follow the economic data globally and locally.
Whereas; the world’s almost most of many economists in the country, the economic crisis globally (Global Economic Crisis Is that you review this section for our content on coming) referring also that approach, the event not only in Turkey mortgage loan to handle in terms of interest rates may not be enough.
Therefore, in the near future, we can evaluate that interest rates may continue stable for a while and there may be minor changes. Of course, as we just said; Abnormal developments in the global and local sense will change this idea.
The configuration event can upset you!
Some customers withdrew loans when their interest rates were high and took advantage of the configuration when interest decreased, and they took housing loans with high rates such as 2%. Although interest rates are falling now, banks are trying every way to refuse this restructuring event.
Lack of an option such as guaranteeing to restructure of the signers, even though the individuals who take credit want the government to take over this issue, if the interest rates fall on the agreement, have negative results in this case.
Entering from the foundation is becoming history!
It was a very profitable situation to enter the foundation without building a building by taking advantage of the mortgage loan. In fact, if the houses are taken from the foundation, the prices will be around 70-80 thousand USD, and when the construction is completely completed, it provides transportation up to 120 thousand USD.
Today, the giants of the construction sector do not look very fond of entering the foundation, since they do not need money. However, firms that are new to the construction sector offer low prices to individuals who enter the foundation because they need money. But we want to say that there is a high degree of trust between a known construction company and an unknown company.
Real Estate Certificate Event Will Affect Housing Loans and Sales
We think that the real estate certificate event, which was recently implemented in order to facilitate house sales, will also have an impact on interest rates and house sales in 2018.
How to Get a Real Estate Certificate?
The real estate certificate is the division of large investments into small shares and to offer them for the public’s purchase in a way that is controlled by the Free Market Law. This certificate study is an investment tool prepared to enable the public to become a partner in large projects. The first study on this subject in Turkey.
What are the advantages of getting a real estate certificate? Those who invest with this certificate can sell this certificate over the value of their certificates in the required and compulsory situations at any time and quickly convert this certificate to money. With this certificate, it is not possible for the goods to be confronted with situations such as possession, not being sold and loss due to interest.
Even if the house is not complete, it can be purchased
In the real estate certificate, it provides the opportunity for the person to purchase his own residence house for the purpose of this project. With this study, it seems possible to buy a house in a very comfortable way without borrowing and suffering. It is a very simple process that the person who decides to get a real estate certificate should do. In order to get help on this matter, any customer or real estate request can be requested by going to the customer representative of any bank or financial institution or via mobile phone or the internet. Following the application and purchasing procedures, which are made quite easily, it is provided to follow up on the certificate received in the Istanbul Stock Exchange and to dispose it at any time.
In the real estate certificate study, it is possible to buy a house, but not to buy a house, but only to invest. Turkey’s largest companies and institutions in this regard give a guarantee of service to prevent damage to the citizens.