Premier Investment Funds are waiting for the Reciprocity Law in Turkey

The law of reciprocity will not only accelerate the housing sales but also other foreign investments in this aspect in Turkey. The Minister Bayraktar said the law would certainly pass within 2 months and also added that the foreign funds are also expecting the emergence of the law.

The unknown points of reciprocity law which will resource of annual 5-10 billion dollars input became clear.

The Environment and Planning Minister Erdogan Bayraktar answered questions on when the law will pass and what restrictions will be.

Bayraktar said that reciprocity law, firstly taken up the Council of Ministers as a draft, became now a draft bill and it will take from 1.5 to 2 months to pass (definitely).

Ratios Were Determined in Each Province

Home Sales Rise in Turkey

The consumers are again towards the most reliable source of investment ^^ Real Estate ^^ because of the rumors of crisis in World economy.

Home sales in the second quarter of 2011 increased by 17.8 percent compared to the previous quarter, sales is gaining momentum outside of the three largest provinces. While there was a limited increase at 1.2 percent in new housing prices in Turkey , the housing loan demand continued to expand.

In the second quarter the demand for housing loans increased

The use of housing loans in the second quarter of 2011 reached 66.7 billion and has continued to expand. However, as a result of decisions taken by the Central Bank, together with rising interest rates in July and August and September, it's been seen a slowdown in housing loan demand and it drew attention to the decline at 9,6 percent in the share of housing loans in total loans.


Housing loan installments lengthened to reduce maturities

While 9.38 billion dolars mortgage loans is being used in the second quarter of the year, according to the previous period, it was found that the credit users demanded for credit more than 3,000 TL  average per capita.

As the housing loan is used at average 75.000 TL per capita, it's seen the consumers prefer longer housing loan installment payments to reduce the maturity of thirty days because of increased interest rates.

While the use of 10-year-term mortgage loan is expanded,  It is noteworthy that the share of 10-15 year maturities increased in the third quarter.