Housing campaign's 15-day turnover TL 1.35B

Published 17.02.2017 00:00

More than 1,520 houses worth almost TL 1.35 billion ($368 million) have been sold in the first two weeks of the joint 20-year maturity campaign launched by the Emlak Konut Real Estate Investment Trust (REIT), according to the Association of Real Estate Investment Companies (GYODER) and the Housing Development and Investors Association (KONUTDER).

The ongoing campaign titled, "Time to Unite for a Strong Turkey," was initiated on Feb. 1 and will continue until March 31.

According to Emlak Konut REIT, the campaign with sales over TL 1.35 billion in the first 15 days, have helped housing companies achieve sales targets within the two-week period.

Last year, Emlak Konut REIT sold 332 houses in January, 424 in February, 440 in March and 464 in April, amounting to a total of 1,657 houses in four months. Sales figures that the company has achieved in the first 15 days of the campaign have almost matched the total sales figures of the first four months, last year.

GYODER Chairman Aziz Torun said the number of customers visiting their sales offices has almost tripled during the campaign, adding that sales have also increased to a certain extent.

He said, "With this campaign, we have offered a new opportunity to potential buyers. According to what I have learned through my own company and other leading players in the housing sector, sales figures have so far been satisfying. We are all happy with the results," he said.

Stressing on the fact that there was great mobility in sales offices in a season when people generally do not want to buy houses, Torun said, prices are also advantageous at the moment as they are expected to go up with cost increase stemming from inflation.

As part of the campaign, companies are offering the opportunity to buy houses interest-free over 60 months, a delayed interest rate of 0.79 percent for over 240 months and 0.45 percent for another 120 months with an advance payment of just 5 percent.

The campaign, which is the first of its kind in Turkey, with a 20-year maturity period, will continue until March 31, 2017.

As part of Emlak Konut REIT's "Sales Campaign with Consumer Price Index," after the July 15 coup attempt, nearly 2,500 houses were sold which saw a turnover of nearly TL 2 billion in one month.

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