For low and middle income families, 1892 housing units will be sold by lot in Istanbul Kayasehir on October 4th by Prime Ministry Housing Development Administration of Turkey (TOKI). The lowest instalment for residence starting from 144.500 TL will be 603 TL. TOKI president Ergün Turan said that they targeted the kow and middle income families who can not own a house under present market conditions. Turan, who stated that they made great strides in Kayasehir residential area, said “The construction of the 1892 low cost housings we have built for the middle income group has reached a significant level and the necessary conditions for sales have been provided, so we have decided to give the Istanbulites this good news.”
Turan said that these dwellings, which will be offered for sale, were developed with ‘neighborhood concept’ and had a neighborhood culture. Turan explained that the streets were passing through houses within the scope of the project and there were single storey shops around them. He said that the applicant should be evaluated in three categories. President Turan, said: “These categories include martyrs’ families, veterans and veterans’ families, at least 40 percent of disabled citizens and other buyers.” Applicants must be present in Istanbul no later than 31 December 2015 at the latest. Applicants may apply for only one of the housing types.
144 months installment
Those who fulfill the conditions will be able to apply for the project by paying 5000 TL for the application fee on 5-20 September. The sales of the houses can be made with 25 percent down payment and 120 month maturity and 40 percent down payment and 144 month maturity. Prices start at 144.755 liras, installments start at 603 liras per month.