Evaluation of interest-free methods in real estate finance -comparison of participation banking, TOKİ finance, collaboration system

Since the existence of human beings, sheltering has been important. Real estates are immovable properties that must be acquired in order for people to meet the need for shelter. When we think about the concept of real estate in society, the first thing that comes to mind is housing.When we think about the concept of real estate, there may be high demand because it is very important for the people.Real estate with high demand will also have a high cost of an acquisition. In our country which is commonly consists of Muslim people, financial options that comply with Islamic rules are important in real estate purchases. There are alternative financial instutitions that offer these financial options.Some of these are Participation Bank Financing, Housing Development Administration Financing, Collaboration System. The aim of this study is to conduct a research to determine the option that is both financially economic and suitable for Islamic values in real estate purchase. The thesis consists of four parts. In the second part, the historical developments of banking in both Turkey and the world are mentioned. In addition to this, participation banking is discussed in detail. In the three part, the historical developments of Mass Housing Administration are discussed under the title of other financing methods and the cooperation system which takes an important place in Interest free finance is also mentioned.In the third section, three different financing sources which are suitable for Islamic rules are calculated by making current researches on mathematical data. As a result, triple Islamic financing options are compared on the table. The comparison is based on the repayment plan of a financing request of 300,000 TL with a maturity of 120 months. According to the results of the comparison, it was concluded that the cooperative financing, which provides financing resources to the participants with the lottery system drawn in the presence of a notary public is effective up to 41st month while Mass Housing Administration is advantageous after the 41st month. The financing option offered by the participation bank has been calculated as the most costly option under current conditions. Due to the fact that the economic conditions in the country are not at the desired level, it causes the profit rate to be calculated high, and as a result, it causes the participation bank financing to be calculated much more costly.