Statement from Cevdet Yılmaz about housing and marriage loans

Vice President Cevdet Yılmaz answered the questions of the press members after the Cabinet Meeting held at the Presidential Complex.

In response to the question regarding the “Proposal Law on the Establishment of the Family and Youth Fund”, Yılmaz said, “First, it will start in the earthquake zone as a pilot application. Then it will spread throughout Turkey. In particular, 150 thousand lira, which we call marriage loans, will be provided to young people with a 4-year loan with a two-year grace period.” “It includes a support mechanism. In the future, as funds and opportunities increase, other supports will of course be available, but they will be phased in,” he said.

“WE NEED TO MANAGE SUPPLY AND DEMAND BALANCED”

On a question about “giving loans to first-home buyers”, Yılmaz said:

“As you know, the Central Bank and the BRSA have made it difficult to access credit for the purchase of a second and third house. We provide access to credit for the purchase of a first house. We said we would make a regulation there, and this is how we did it. There are no longer many credit opportunities for the purchase of a second and third house. When there is no loan opportunity for housing, housing loan opportunities are used for first home ownership.

It is necessary to consider the issue of home ownership not only in terms of credit but also in conjunction with the housing supply. In the form of housing supply and housing demand… Otherwise, if you only think about loans, you may take housing prices to a level you do not want. “We need to manage housing supply and housing demand in a balanced way.”