The proposal of the Housing Finance Program is in the Grand National Assembly of Turkey
Discussions on the Public Finance Regulation and Debt Management Amendment Law in relation to the New Housing Finance Program continue in Parliament’s Budget and Plan Committee.
According to the impact analysis of the proposal, the Treasury will grant a non-refundable contribution under the condition of return and by the contractor in order to guarantee that citizens can make contributions at a certain level of their income during the first 3 years. in the home finances they will use.
With the regulation, the President is authorized to determine characteristics such as interest rate/profit sharing, maturity, amount of financing, restrictions on household income within the scope of the program.
In order for the financing to be provided under favorable conditions within the scope of the program, the Treasury expects to provide resources with adequate financing instruments.
TREASURY CONTRIBUTION TO 50 THOUSAND HOUSES
Under the program, up to 2 million lire 0.69 in the first stage; 0.79 from 2 million lira to 4 million lira; For loans between TL 4 million and TL 5 million, it is planned to provide financing with an interest rate of 0.99 / profit share.
Assuming that this year 100,000 homes are financed within the scope of the program and it is expected that approximately half of these homes will be offered by banks with a flexible payment plan, it is estimated that a Treasury contribution will be provided for the financing to be used for 50 thousand houses.
THE COST FOR 2023 IS ESTIMATED AT 2.75 BILLION LIRA
Based on the projection of the Treasury contribution for the first 3 years, the total cost of the Treasury contribution for 2023 is expected to be 2.75 billion lira. In the event of receiving a contribution from the Treasury for all the 100,000 homes, this amount will double at most.
The cost of the Treasury contribution will be 8,580 million lira in 2024 for 50,000 houses, 6,890 million lira in 2025; In 2023, 2024 and 2025, a total of 18.22 billion lire is expected. (AA)