Buying a house for low-income people is a dream again! Here's Emlak Konut's new system

The cheapest apartments offered for sale under the Emlak Konut Yeni Yuvam Model for low-income residents are the 1+1 model in Arnavutköy, Istanbul. The value of the apartments in the cheapest category is 6 million TL.

The "New Home Model", implemented by Emlak Konut in cooperation with Emlak Katılım, was offered to those who want to buy a house under public guarantee, without interest, down payment or interim payments, and as "good news".

With this model, residents can own homes from 23 Emlak Konut projects in Istanbul, Antalya, Izmir, and Balıkesir without waiting for delivery dates, without a lottery or draw. The system offers a payment plan entirely based on the principal, with no interest or additional costs, and payments can be made in installments of up to 60 months.

However, for someone earning minimum wage or a fixed salary, these payment terms are quite challenging. The "Emlak Konut Yeni Yuvam Model" states that anyone over the age of 18 can apply, without requiring a credit score, proof of income, or a guarantor, but not everyone can apply.

HOW DOES THIS PAYMENT PLAN WORK?

The payment plan for a 1+1 residence worth 6 million TL in the Yenişehir Evler Arnavutköy project within the scope of the 'Emlak Konut Yeni Yuvam Model':

First 30 months: A total monthly payment of 150 thousand TL to Emlak Konut ve Savings Financing Company,

Last 30 months: Monthly payment of 50 thousand TL only to Emlak Konut.

This plan, with a total term of 60 months, offers those who want to own a home the opportunity to own a home without interest, down payments, interim payments, and without having to wait for a delivery period.

HERE IS THE MONTHLY AMOUNT A LOW-INCOME PERSON WILL PAY

Housing price: 6,000,000 TL

Term: 60 months (5 years)

First 30 months: Monthly payment of 150,000 TL

Last 30 months: Monthly payment of 50,000 TL

No interest, no down payment, no interim payments

PAYMENT PLAN

First 30 months: 150,000 TL × 30 months = 4,500,000 TL

Last 30 months: 50,000 TL × 30 months = 1,500,000 TL

TOTAL PAYMENT

4.500.000 TL + 1.500.000 TL = 6.000.000 TL