The housing sector in Türkiye continues to receive state support, with new homes being built through government initiatives. After TOKİ launched the “My First Home” campaign to construct 250,000 residences and enable low-income citizens to become homeowners, the same program released one million serviced plots for sale so low-income families could build their own houses.
Following statements from President Erdoğan, a new initiative called the “My New Home” campaign was announced to help middle-income families who have never owned a home purchase property with interest rates starting from 0.69%. After these measures, attention has turned to the resale housing market. The President also made remarks regarding second-hand homes.
Second-Hand Housing Campaign Is Starting
Noting preparations for a campaign aimed at resale homes, President Erdoğan stated, “We are now preparing a campaign for second-hand housing. We will have a separate project to support citizens who want to buy resale homes. Planning is ongoing. Our priority is still those buying their first home. We have serious experience in this area. We will support second-hand purchases.“
President Erdoğan emphasized that the state has made significant sacrifices to enable citizens to become homeowners, reiterating the government’s commitment to housing initiatives that have been ongoing for many years. He said the promise to support middle-income groups has been fulfilled and mentioned a special project prepared for Roma citizens across 21 provinces. Highlighting what he called the largest social housing project in the history of the Republic, Erdoğan noted that these efforts are not new but part of a two-decade-long program. With the focus now shifting to second-hand housing, he affirmed that the government will continue to implement new projects.
What Interest Rate Will the Second-Hand Housing Campaign Offer?
It is known that public banks are working on loan terms for the second-hand housing campaign. While the state may not provide the same level of support for resale homes as it does for new-build properties, projections suggest mortgage financing could be offered at an approximate monthly rate of 0.99%. New housing campaigns stimulate construction activity and employment, benefits that second-hand purchases are less likely to generate.