Manufacturers of “Factory Houses” Continue to Expand Their Selection of High-end Goods

In Turkey, affordable apartments are offered outside of the scope of the TOKI Mass Housing Construction Department’s activities.

Successful chances are occasionally offered within the context of “sales” from banks. The current offer from Vakfbank includes homes with a starting price of just 8,000 Turkish Lira (TL) and installment payments for the remaining debt, with payments of 1,182 TL each month.

Vakfbank offers secondary houses for sale at a final cost starting at 80,000 TL. This is about ten times less expensive than Turkey’s average price per housing unit (the average cost of a residence in the country already exceeds 700 thousand TL).

This is real estate, as you would have guessed, which for unknown reasons was given to banks by defaulters who couldn’t make their loan payments. Nevertheless, given that the seller is the bank, the majority of these lots are good ones without any “surprises” in terms of paperwork.

Therefore, buying real estate that has been seized by a bank is a fantastic chance for people who wish to own their own homes but cannot afford to do so at market rates. However, when it comes to location, you must select from what you have, not what you want.

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Therefore, a home in Ankara with a square footage of 127 square meters (for 140,000 TL) and one with a square footage of 100 square meters (for 135,000 TL) are now included in the list of lots offered by Vakfbank.

A 40 square meter apartment in Ushak costs 200,000 TL, a 72 square meter apartment in Tekirdag costs 249,000 TL, and a 124 square meter apartment in Mardin costs 250,000 TL. Mardin offers 2 square meters for 250,000 Turkish lira.

First, you can put down only 10% of the total cost and borrow the remaining 90% through a home loan.

By the way, banks periodically publicize the sale of both land and mortgaged dwellings.

As previously reported, mortgages are being replaced in Turkey by monthly payments.