The next announcement on the sale of the most affordable housing was published by the bank Vakıfbank; this is one of several financial structures in Turkey that implements secondary real estate in the residential sector, mainly collateral.
Recall that in exchange for unpaid loans, banks can confiscate apartments and debtors and sell them at reduced rates in order to "turn" this property into cash and thereby cover loan losses.
Now Vakıfbank offers, in particular, a lot in Batman for only 194 000 Turkish lira (TL). The format of the residence is 2 + 1, the area is 125 sq. m. An additional attraction of the lot is that the house is gasified, and the apartment has underfloor heating, which is not such a frequent case for Turkey.
Moreover, Vakıfbank is ready to provide interested parties with their own housing loans for such housing. For the secondary real estate, this is a maximum of 70% of the amount; that is, you can borrow a maximum of 135 000 TL from the bank for the said residence.
If you calculate the maximum possible loan – just for this amount – with a maturity of 120 months (10 years), then the monthly payment with a starting fee of 59 000 TL will be 2 217 TL, which in any case is much lower than the average rent in Turkey.
Banks periodically announce similar promotions; for example, recently Ziraat Bank offered preferential apartments for a quarter of a million TL.
Buyers can count on other benefits: for example, for the purchase of a factory-built house, you can get a subsidy of up to 200 000 TL.