<< Return to countries

Europe and Central Asia

Housing Finance Policy

Text bolded/green below shows notes and variable definitions when you roll over. If you cannot see the notes, please download an Excel version from the Research Center, which includes notes. Also, a PDF featuring variable definitions is available in the document list under "Definition of Hofinet Variables".

A. Legal and Regulatory Framework
- A.1 Legal and Regulatory Framework
B. Housing Finance Subsidies
- B.1 Subsidies to Housing Finance Institutions
- B.2 Subsidies to Households
C. Taxation

A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)	Civil	Civil	Civil	Research	A.1.1
Are there specific laws that deal with mortgages?	Yes	Yes	Yes	International Financing Review	A.1.2
Registration/Transfer of titles:					A.1.3
Does the law clearly define different types of property rights?	Yes	Yes	Yes	Country Editor	A.1.3.1
Are property rights easily transferable?			Yes	Country Editor	A.1.3.2
Identify barriers to the registration/ transfer of property title.			No specific barriers	Country Editor	A.1.3.3
Typical number of days needed for the transfer of title	5	6	6	WDI	A.1.3.4
Can liens be effectively enforced?			Yes	Country Editor	A.1.4
Are there legal constraints on mortgage features?	No	No	No	Research	A.1.6
Interest rate caps	No	No	No	Research	A.1.6.1
Loan-to-Value cap	No	No	No	IMF	A.1.6.2
Payment-to-Income maximum	No	No	No	Research	A.1.6.3
Other	No	No	No	Research	A.1.6.4
Are there consumer rights for mortgage lending?			Yes	Country Editor	A.1.7
Are there disclosure requirements for mortgage lending?			Yes	Country Editor	A.1.8
Is there specialized legislation covering:					A.1.9
Issuance of covered mortgage bonds	Yes	Yes	Yes	By-law on Turkish Mortgage Covered Bonds	A.1.9.1
Issuance of RMBS	Yes	Yes	Yes	Law on Housing Finance No. 5582	A.1.9.2

B. Housing Finance Subsidies

B.1 Subsidies to Housing Finance Institutions

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Are there subsidized funding sources for mortgage lenders?	Yes	Yes	Yes	Research	B.1.1
Special government lines of credit	Yes	Yes	Yes	TOKI	B.1.1.1
Is the lending side of the housing finance system subsidized?			No	Capital Markets Board of Turkey SPK	B.1.2

B.2 Subsidies to Households

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
Are there subsidies to households on housing finance?	Yes	Yes	Yes	Research	B.2.1
Interest rate subsidies by special government funds	Yes	Yes	Yes	TOKI	B.2.1.1
Buy-down of monthly/interest payments	Yes	Yes	Yes	Research	B.2.1.2
Down-payment subsidies			No	Country Editor	B.2.1.3
Subsidies to savings for mortgage loans	Yes	Yes	Yes	IMF	B.2.1.4
Mortgage interest deductibility from income tax			No	Country Editor	B.2.1.5
Other			Yes	Country Editor	B.2.1.6
Reach of subsidies in 2.1.1 to 2.1.4 ?					B.2.2

C. Taxation

Variable	End of 2018	End of 2017	End of 2016	Sources	Var ID
What taxes apply to Residential Real Estate?					C.1
Tax on property (home-owners)	Yes	Yes	Yes	Global Property Guide	C.1.1
Property transaction taxes (purchase/selling)	Yes	Yes	Yes	Deloitte	C.1.2
Mortgage transaction taxes			Yes	Country Editor	C.1.3
Tax on mortgage interest pmts			No	Country Editor	C.1.4
Tax on capital gains on property	Yes	Yes	Yes	Global Property Guide	C.1.5

Copyright © 2024. HOFINET. By using or accessing this website, you signify that you agree to the Terms of Use.
When using or citing any information displayed on this website or accompanying blog sites, you must provide a reference to HOFINET.