The Housing Development Administration of Turkey (TOKİ) has put 834 plots up for sale in 50 cities. The sales, starting on February 19, will require a 25% down payment and have a 48-month installment plan.

TOKİ will hold the auction on February 19-20-21 at 10:30 am. Auctions will be held in Ankara and Istanbul; participants can also place bids online. The addresses are as follows: Istanbul TOKİ Service Building Conference Hall in Küçükçekmece, Istanbul. Ankara Bilkent Hotel and Conference Center in Çankaya, Ankara. Investors can attend the auction physically or place bids online.

The plots for sale are located in Adana, Afyonkarahisar, Ağrı, Aksaray, Amasya, Ankara, Antalya, Aydın, Balıkesir, Batman, Bayburt, Bilecik, Bitlis, Burdur, Bursa, Çanakkale, Çankırı, Çorum, Denizli, Diyarbakır, Düzce, Edirne, Elazığ, Erzincan, Erzurum, Eskişehir, Gaziantep, Giresun, Hatay, Isparta, Istanbul, Izmir, Kahramanmaraş, Karabük, Karaman, Kayseri, Kırıkkale, Kırklareli, Kırşehir, Kocaeli, Konya, Malatya, Mardin, Mersin, Muğla, Sakarya, Şanlıurfa, Tekirdağ, Van, and Yalova.

WHAT ARE THE SALES CONDITIONS?

For the option of 25% down payment and 48-month installment plan, the Producer Price Index (ÜFE) rate will be applied at a maximum of 12.5% for a 6-month period. The annual ÜFE increase rate will be a maximum of 25%.

For the option of 40% down payment and 36-month installment plan, the ÜFE rate will be applied at a maximum of 7.5% for a 6-month period. The annual ÜFE increase rate will be a maximum of 15%. A 15% discount will be applied for cash payments in installment sales.