General Assessment

Variable(2015)
Data
Main constraints in the development of the housing finance sector Low access to housing credit, less developed secondary mortgage market and lack of liquidity provider, scope and impacts of developers' finance
New developments that will have a major impact on the sectorUrban regeneration in big cities, new PPP projects, declining interest rates may have positive effects
back to top | Country Data:
Notes: Credit Bureau of Turkey (KKB)
Notes: Credit Bureau of Turkey (KKB)
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes:
Notes: (2010 = 100)
Notes: 15% withholding tax imposed on returns from investments made in mortgage backed securities
Notes: A little higher than 4
Notes: According to regulations of the Banking Regulatory and Supervisory Agency maximum LTV ratio was 75% since Dec 18, 2010
Notes: According to regulations of the Banking Regulatory and Supervisory Agency maximum LTV ratio was 75% since Dec 18, 2010
Notes: According to regulations of the Banking Regulatory and Supervisory Agency maximum LTV ratio was 75% since Dec 18, 2010
Notes: According to regulations of the Banking Regulatory and Supervisory Agency maximum LTV ratio was 75% since Dec 18, 2010
Notes: According to regulations of the Banking Regulatory and Supervisory Agency maximum LTV ratio was 75% since Dec 18, 2010
Notes: All banks use credit scoring.
Notes: All banks use credit scoring.
Notes: All banks use credit scoring.
Notes: All banks use credit scoring.
Notes: All commercial and investment banks may extend housing loans, but only 16 of them are actively extending them.
Notes: All commercial and investment banks may extend housing loans, but only 16 of them are actively extending them.
Notes: All commercial and investment banks may extend housing loans.
Notes: All commercial and investment banks may extend housing loans.
Notes: All commercial and investment banks may extend housing loans.
Notes: All commercial and investment banks may extend housing loans.
Notes: Banking Regulation and Supervision Agency
Notes: Banking Regulation and Supervision Agency
Notes: Banking Regulation and Supervision Agency
Notes: Banking Regulation and Supervision Agency
Notes: Banking Regulation and Supervision Agency
Notes: Banking Regulation and Supervisory Agency
Notes: Banking Regulation and Supervisory Agency
Notes: Capital gains derived from selling properties that have been acquired in the past 5 years are subject to income tax. There is no capital gains tax beyond the 5 year holding period
Notes: Credit Bureau of Turkey (KKB)
Notes: Credit Bureau of Turkey (KKB)
Notes: Credit Bureau of Turkey (KKB)
Notes: Credit Bureau of Turkey (KKB)
Notes: Credit Bureau of Turkey (KKB)
Notes: Credit Bureau of Turkey (KKB)
Notes: Credit Bureau of Turkey (KKB)
Notes: Credit institutions in Turkey have traditionally only issued fixed rate mortgages. It is possible that variable mortgage products have been issued. However, there is no data data for the distinction
Notes: Credit institutions in Turkey have traditionally only issued fixed rate mortgages. It is possible that variable mortgage products have been issued. However, there is no data data for the distinction
Notes: Credit institutions in Turkey have traditionally only issued fixed rate mortgages. It is possible that variable mortgage products have been issued. However, there is no data data for the distinction
Notes: Credit institutions in Turkey have traditionally only issued fixed rate mortgages. It is possible that variable mortgage products have been issued. However, there is no data data for the distinction
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Data found under "Consumer Loans" tab.
Notes: Foreign currency denominated mortgage loan is rare in Turkey. It might be less than 1%
Notes: Foreign currency denominated mortgage loan is rare in Turkey. It might be less than 1%
Notes: Housing Finance Banks
Notes: Housing Finance Banks
Notes: However, tax exemptions exist for SPVs established for MBS issuance purposes.
Notes: However, tax exemptions exist for SPVs established for MBS issuance purposes.
Notes: However, tax exemptions exist for SPVs established for MBS issuance purposes.
Notes: However, tax exemptions exist for SPVs established for MBS issuance purposes.
Notes: However, tax exemptions exist for SPVs established for MBS issuance purposes.
Notes: However, tax exemptions exist for SPVs established for MBS issuance purposes.
Notes: However, tax exemptions exist for SPVs established for MBS issuance purposes.
Notes: However, tax exemptions exist for SPVs established for MBS issuance purposes.
Notes: IMF end of year average market exchange rates for 2007 used [1.17 TRY = 1 USD], Data found under "Consumer Loans" tab.
Notes: IMF end of year average market exchange rates for 2008 used [1.54 TRY = 1 USD]. Data found under "Consumer Loans" tab.
Notes: IMF end of year average market exchange rates for 2009 used [1.50 TRY = 1 USD]. Data found under "Consumer Loans" tab.
Notes: IMF end of year average market exchange rates for 2010 used [1.50 TRY = 1 USD]. Data found under "Consumer Loans" tab.
Notes: It is expected that all banks use credit scoring for all credit issuance and mortgage origination. However, there are no formal data for this.
Notes: It is expected that all banks use credit scoring for all credit issuance and mortgage origination. However, there are no formal data for this.
Notes: Only one consumer finance company extends housing loans: DD Mortgage (www.ddm.com.tr/index_en.html)
Notes: Only one consumer finance company extends housing loans: DD Mortgage (www.ddm.com.tr/index_en.html)
Notes: Only one consumer finance company extends housing loans: DD Mortgage (www.ddm.com.tr/index_en.html)
Notes: Only one consumer finance company extends housing loans: DD Mortgage (www.ddm.com.tr/index_en.html)
Notes: Please use IMF annual average market exchange rate for 2007: [1.30 TRY = 1 USD], Data found under "Consumer Loans" tab.
Notes: Please use IMF annual average market exchange rate for 2008: [1.30 TRY = 1 USD], Data found under "Consumer Loans" tab.
Notes: Please use IMF annual average market exchange rate for 2009: [1.50 TRY = 1 USD], Data found under "Consumer Loans" tab.
Notes: Please use IMF annual average market exchange rate for 2010: [1.50 TRY = 1 USD], Data found under "Consumer Loans" tab.
Notes: Please visit the Research Center or download the data sets for 2007 data.
Notes: Property tax rates vary depending on property type and its location within the boundaries of a metropolitan municipality
Notes: Public, commercial and investment banks may extend housing loans.
Notes: Public, commercial and investment banks may extend housing loans.
Notes: Public, commercial and investment banks may extend housing loans.
Notes: Public, commercial and investment banks may extend housing loans.
Notes: Public, commercial and investment banks may extend housing loans.
Notes: Public, commercial and investment banks may extend housing loans.
Notes: Public, commercial and investment banks may extend housing loans.
Notes: Public, commercial and investment banks may extend housing loans.
Notes: Represents cumulative change of median house prices from 2010-2016 of 110%. Rate is constant across years so after 6 years the accumulation is 110%.
Notes: Represents cumulative change of median house prices from 2010-2016 of 110%. Rate is constant across years so after 6 years the accumulation is 110%.
Notes: Represents cumulative change of median house prices from 2010-2016 of 110%. Rate is constant across years so after 6 years the accumulation is 110%.
Notes: Represents cumulative change of median house prices from 2010-2016 of 110%. Rate is constant across years so after 6 years the accumulation is 110%.
Notes: Represents cumulative change of median house prices from 2010-2016 of 110%. Rate is constant across years so after 6 years the accumulation is 110%.
Notes: Represents cumulative change of median house prices from 2010-2016 of 110%. Rate is constant across years so after 6 years the accumulation is 110%.
Notes: The info is in "Insaat ve Kullanim Izinlerine Göre Konut Üretimi" excel document.
Notes: The info is in "Insaat ve Kullanim Izinlerine Göre Konut Üretimi" excel document.
Notes: The info is in "Insaat ve Kullanim Izinlerine Göre Konut Üretimi" excel document.
Notes: The info is in "Insaat ve Kullanim Izinlerine Göre Konut Üretimi" excel document.
Notes: The LTV ratio is determined as 75%.
Notes: The LTV ratio is determined as 75%.
Notes: The LTV ratio is determined as 75%.
Notes: The LTV ratio is determined as 75%.
Notes: The LTV ratio is determined as 75%.
Notes: The LTV ratio is determined as 75%.
Notes: The LTV ratio is determined as 75%.
Notes: The money gained from all transactions (including those based on foreign currency) in the context of housing finance carried out by housing finance institutions are exempted from Banking and Insurance Transactions Tax.
Notes: The money gained from all transactions (including those based on foreign currency) in the context of housing finance carried out by housing finance institutions are exempted from Banking and Insurance Transactions Tax.
Notes: The money gained from all transactions (including those based on foreign currency) in the context of housing finance carried out by housing finance institutions are exempted from Banking and Insurance Transactions Tax.
Notes: The money gained from all transactions (including those based on foreign currency) in the context of housing finance carried out by housing finance institutions are exempted from Banking and Insurance Transactions Tax.
Notes: The money gained from all transactions (including those based on foreign currency) in the context of housing finance carried out by housing finance institutions are exempted from Banking and Insurance Transactions Tax.
Notes: The money gained from all transactions (including those based on foreign currency) in the context of housing finance carried out by housing finance institutions are exempted from Banking and Insurance Transactions Tax.
Notes: The money gained from all transactions (including those based on foreign currency) in the context of housing finance carried out by housing finance institutions are exempted from Banking and Insurance Transactions Tax.
Notes: The premiums gained by banks from selling their stocks above their nominal values during their establishment and capital increases are exempted from Banking and Insurance Transactions Tax. Moreover, investors of banks' mortgage securities are exempted from income tax.
Notes: The premiums gained by banks from selling their stocks above their nominal values during their establishment and capital increases are exempted from Banking and Insurance Transactions Tax. Moreover, investors of banks' mortgage securities are exempted from income tax.
Notes: The premiums gained by banks from selling their stocks above their nominal values during their establishment and capital increases are exempted from Banking and Insurance Transactions Tax. Moreover, investors of banks' mortgage securities are exempted from income tax.
Notes: The premiums gained by banks from selling their stocks above their nominal values during their establishment and capital increases are exempted from Banking and Insurance Transactions Tax. Moreover, investors of banks' mortgage securities are exempted from income tax.
Notes: The title deed transfer charge is a 2% tax levied on the sale of real property. This charge is payable by both buyer and seller separately
Notes: The typical payment-to-income ratio is 30-40%
Notes: The typical payment-to-income ratio is 30-40%
Notes: There are companies which sell default insurance. However, this sub-market is not efficient
Notes: There are companies which sell default insurance. However, this sub-market is not efficient
Notes: There are no such intermediaries in Turkey
Notes: There are no such intermediaries in Turkey
Notes: There is a subsidy framework for urban regeneration projects in Turkey. Moreover, a newly issued regulation also offers some level of subsidies for first time buyers
Notes: There is a subsidy framework for urban regeneration projects in Turkey. Moreover, a newly issued regulation also offers some level of subsidies for first time buyers
Notes: Variable rates are allowed but do not apply in practice
Notes: Variable rates are allowed but do not apply in practice
Notes: Variable rates are allowed but do not apply in practice
Notes: Variable rates are allowed but do not apply in practice
Notes: Variable rates are allowed but do not apply in practice
Notes: Variable rates are allowed but do not apply in practice
Notes: Variable rates are allowed but do not apply in practice
Notes: Variable rates are allowed but do not apply in practice
Notes: Variable rates are allowed but do not apply in practice. Data found under "Consumer Loans" tab.
Notes: Variable rates are allowed but do not apply in practice. Data found under "Consumer Loans" tab.
Notes: Variable rates are allowed but do not apply in practice. Data found under "Consumer Loans" tab.
Notes: Variable rates are allowed but do not apply in practice. Data found under "Consumer Loans" tab.
Notes: Variable rates are allowed but do not apply in practice. Data found under "Consumer Loans" tab.
Notes: Variable rates are allowed but do not apply in practice. Data found under "Consumer Loans" tab.
Notes: Variable rates are allowed but do not apply in practice. Data found under "Consumer Loans" tab.
Notes: Variable rates are allowed but do not apply in practice. Data found under "Consumer Loans" tab.