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Land News from Minister Kurum

Posted by Hasporealty Hasporealty on August 12, 2022

Minister Kurum's recent statement on agricultural and 2/B lands should please the citizens of Turkey. We are talking about the sale of allotments, which are the property of the treasury, to the rightful owners. Thus, the minister offers the population to resolve property issues.

It was also said that the deadline for applications and contributions has been extended until December 31, 2022. The corresponding changes have already been made to Turkish legislation. This will protect the interests of 314 thousand citizens who missed the application period and contributions due to the worldwide spread of the coronavirus.

The plans of the Ministry are to lease the agricultural plots of the Treasury to farmers for 3 years for 50% of the cost they have contributed.

Bonus on the sale of Treasury real estate for cash

If the property is being sold for cash, you can pay for the purchase in installments. Having made the first payment in the amount of 25%, it is allowed to issue 8 installments for a period of 24 months. But cash payment is more profitable, because then the buyer is entitled to a 20% discount.

In 2018, an agreement was reached with farmers on the use of treasury agricultural land. The plots were rented out for 10 years at a reduced cost. 55 farm owners rushed to take advantage of this opportunity. In total, 595 million square meters were sold under the program. m.

At the beginning of 2022, a decree came into force, according to which the 22% interest rate was replaced by a modest 9%. The deadline for filing has been canceled and the volume has increased. This allowed farmers to lease the property of the Treasury for 3 years. Such measures can be safely attributed to state support for agricultural production and insurance.

Those who paid well rentare entitled to apply for an extension of the contract. When using the site for 10 years, farmers are offered to purchase the object directly. This approach ensures continuous agricultural production on land owned by the Treasury.

Sale of plots for infrastructure

But the Ministry of the Environment is not going to stop there either. Already, individual plots are being prepared for sale for infrastructure. Having bought an allotment, a Turkish citizen will be able to build the house that he wants.

The plots are sold at favorable prices. Although they are located on the outskirts of cities, the first buyers have already shown interest. Sales will start in August 2022 in Istanbul, Ankara, Izmir, Konya and Bursa.

The implementation of allotments for infrastructure is one of the points of the program developed by officials aimed at preventing a significant jump in prices for residential real estate. Also, the construction of social property is being carried out at an accelerated pace.

If 2 years ago the real estate market was oversaturated, then Covid-19 and the economic crisis made their own adjustments. The price of construction materials has risen noticeably, and the rise in prices has also affected land plots. High inflation has led to the fact that housing construction has gradually begun to come to naught. At the same time, the demand for apartments remained high.

Owners of houses took advantage of this - apartments for rent are offered at inflated prices. The same goes for buying a home.

The sale of land on favorable terms from the Treasury will allow the construction of one-story houses and high-rise buildings. On an area of ​​500-1000 sq. m will look good a small building for two. Becoming the owner of the site for 8-10 thousand square meters. m, you can build a house on 3-4 floors.

For the construction to be legal, the buyer must apply for a license and then develop the project, taking into account the zoning plan.

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