'Gold housing' model on the agenda! Housewives could also become homeowners

The proposal by Istanbul Chamber of Industry (ISO) President Erdal Bahçıvan is based on bringing gold held under mattresses into the economy during this period when gold prices are on the rise. Stating that there is a gold stock worth approximately 400 billion dollars, Bahçıvan expressed that this asset should be utilized. He noted that the model aims to both revitalize the housing market and increase Central Bank reserves. Bahçıvan said, "Citizens would bring their gold from under the mattress to pay the down payment for a house, the Central Bank would take this gold to increase its reserves, and provide subsidized long-term housing loans."

25 PERCENT DOWN PAYMENT, 15-YEAR LOAN

Bahçıvan suggested that under the new model, those buying a house could pay 25 percent of the down payment in gold, and for the remaining portion, subsidized housing loans with a maturity of up to 15 years could be offered. It is argued that in this way, the stagnation in the housing market could be overcome and the rise in gold prices could be turned into an economic advantage.

'IT COULD MAKE HOUSEWIVES HOMEOWNERS'

Ekonomim newspaper columnist Dr. Şeref Oğuz also supported the model, emphasizing that gold held under mattresses is mostly in the hands of housewives. Oğuz stated, "This model could make housewives property owners. With gold having gained so much value, women could use their savings to become homeowners."

IS A NEW HOUSING LOAN CAMPAIGN ON THE AGENDA?

Bahçıvan’s 'Gold Housing Model' proposal has also brought with it expectations for a new housing loan campaign. It is being discussed that if this model is implemented, there could be activity in the housing market, which has come to a standstill due to high interest rates.