Real estate festival .hurriyet2008-detailbox-newslink { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:none; color:#000000;} .hurriyet2008-detailbox-newslink:hover { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:underline; color:#990000;} ISTANBUL - During a real estate festival to be organized in April 2009 in Istanbul, companies will offer discounts up to 35 percent, Association of Mortgage Brokers (MBD) said Tuesday.

This event will bring new blood to the sector, MBD officials believed. The fair will take place at Istanbul Fair Center in April 2009. The highlight of the festival will be the discounts. Waves of discounts will be introduced to visitors, head of MBD, Hakan Buvan said.

"The projects that participate in the fair will be offered to visitors with a 35 percent discount on the first day of the fair. On the second day of the fair, a 30 percent discount will come into effect. On the third day, 25 percent, and on the fourth day of the fair, 20 percent discounts will be offered, he said.

Some 50 companies have shown interest in the fair and have started preparations, according to Buvan. Construction companies believe that whatever remaining units left unsold from their various projects, they would be able to sell all of them during the fair. Buvan said they were expecting excessive interest in the fair from both companies and visitors.

Home prices have hit bottom, according to Buvan. From now on, and especially on the last quarter of 2009, he expects progress in the sector.