Families help young home buyers
Güncelleme Tarihi:
Hürriyet
Oluşturulma Tarihi: Aralık 27, 2008 00:00
ISTANBUL - The majority of homes in Istanbul bought without bank loans are purchased through "family loans." Parents or elder family members help young couples in home purchases when bank loans are not available or not preferred, said Realty World İca Property broker İclal Gürpınar.
"The Turkish society has closely-knit family ties. We witness these in home sales. When a young couple endeavors in a home purchase, they get support from their parents, or even grandparents. Sometimes brothers and sisters help out, too."
Home buying is an investment of a lifetime. To be able to take such a step, young people might need some help because they typically fall short of the total amount they need, according to Gürpınar. Other family-related home purchases also happen in the market.
The main reason for such sales is "to move near parents." People need "family solidarity" especially during tough times, according to Gürpınar.
Home buying is an investment of a lifetime. To be able to take such a step, young people might need some help because they typically fall short of the total amount they need, according to Gürpınar. Other family-related home purchases also happen in the market.
The main reason for such sales is "to move near parents." People need "family solidarity" especially during tough times, according to Gürpınar.