22nd March 2007 09:58
February saw Turkey’s first ever mortgage law approved in Turkish courts. The law, introduced to aid home ownership by lower income residents, will enable mortgage lenders to offer variable-rate mortgages to property buyers, reducing the need for bank loans.

Thus far, demand for mortgages has not been high but this is expected to change as interest rates slip and the system becomes more familiar. Speculators predict that the mortgage market will swell, fuelling competition between banks and heightening the already booming property market.

European Housing Finance President Pamela Lamoreaux is reported to have said, "I think there will be gradual growth with gradual reduction of interest rates, but we know that when rates were about 1.0 percent per month the volumes were substantial".

Legislation for the secondary market has yet to be completed and this may take several months. Financial experts anticipate Turkey seeing its first mortgage-backed securities at the beginning of 2008.

Turkey named 4th fastest developing property market - Recent research places Turkey fourth in the list of most rapidly developing property markets. - 24th April 2007 09:28
British company invests $200mn in Turkish developments - Leading London based firm Financial Dimensions, experts in real estate and project development, have committed to invest 200 million dollars in property developments in Turkey over the next years. - 18th April 2007 10:23
Turkey's tourism encourages property investors - As one of Europe's most buoyant emerging property markets, Turkey is experiencing an influx of foreign property investment. - 10th April 2007 08:59
Research shows Bodrum is investor's best bet - Recent research carried out by Obelisk International, a major real estate company, has identified the Bodrum peninsula in Turkey as the top investment location for 2007. - 3rd April 2007 09:40
Luxury housing projects take off in Turkey - Turkish press and real estate institutions alike are full of the buzz of Turkey’s exclusive multimillion-dollar property projects, which have revamped properties in a number of areas for the rich and famous. - 26th March 2007 09:15
Istanbul tipped to win European city of the year award - Although Turkey has yet to join the European Union, Istanbul is considered as one of the favorites for the European City of the Year 2007 award. - 23rd March 2007 17:33
Bodrum benefits from Turkey's tourism master plan - The popular Aegean town of Bodrum and the Mediterranean holiday resort Alanya will be the beneficiaries of Turkey’s tourism budget for 2007. - 13th March 2007 10:12
Property: Turkey's primary revenue? - The anticipated property boom in Turkey is happening even faster than experts predicted, outstripping other sectors on economic growth. - 7th March 2007 09:21
Turkey's property market receives injection of corporate investment - According to Turkish Daily News, global corporations such as Morgan Stanley, UBS, Deutsche Bank, Alliance and Leicester, Credit Lyonnais, Scottish Widows, and Credit Suisse are looking to invest in Turkish property as a means of diversifying their investment portfolio in a market with long term growth forecast. - 28th February 2007 11:10