Within seven days time, TOKI has received 38,060 applications for 5,641 units of low-cost housing on offer with just a 4,000 TL down payment.
Turkey's Housing Development Administration (TOKİ) has received record numbers of applications, for residences geared towards low-income earning citizens. Applications will be accepted up until March 4th. Thus far, within seven days time, 30,060 applications have been received for 5,641 low-income residences. The break-down is as follows; in Kayseri, 8,400 families applied for 602 residences. In Bingöl 3,730 applications were made for 160 residences. In Aksaray 2,800 applications have been received for 160 residences. In Düzce 3,505 applications were made for 320 residences. In Sivas 3,805 applications were received for 468 residences. Down payments start at 4,000 TL, and will be subjected to 15-year (180) payments starting at 225 lira monthly. Payments will begin upon delivery and anyone interested in applying for the opportunity must do so by Friday March 4th. The names of those who have the appropriate criteria will then be placed in a drawing which will be done with a notary.
Those who want to purchase low-income housing must comply with all of the determined criteria. It is required applicants are Turkish citizens, and have officially resided in the areas they are applying in for at least one year. In addition, applicants must not have previously purchased property from Turkey's Housing Development Administration nor have previously used property credit from TOKİ. Applicants can not own any property, nor can their spouses or children. Applicants must be over 25 years of age and must earn less than 2,600 TL net monthly.