The government has completed the necessary preparations for new home owners to acquire financial assistance. Deputy prime minister in charge of the economy, Mehmet Şimşek, said the legislative task about the assistance is about to be finalized.

Accordingly, it will provide up to TL 15,000 ($5,044) to people that undertake a payment regularly under the housing account for at least three years. Only Turkish nationals that do not already own house will benefit from the government assistance. The draft for the proposed regulation was presented to the relevant institutions' for their comments, and the assist is expected to come into effect in three months. The financial assistance will be as much as 20 percent of the house's original price, but will not exceed TL 15,000, according to the draft. However, this amount will increase every year based on the inflation rate.

The government assistance will be provided by the budget, and will be paid to the new house owners via banks. The first payments will be made to the beneficiaries in 2019.

Şimşek said this practice is aimed to increase the savings habits of Turkish citizens, as well as provide additional and long-term deposit sources for the banking sector.