Turkish Home Loan Market Saved

Has the Turkish Home Loan Market Saved Because No Mortgage Regulations was In Place?

A lot of foreign investors are contemplating on renting up a property on Turkish grounds. This is basically because of the real value of the place especially when it comes to tourism. The country is a good combination of big beach resorts and a favourable climate. An added advantage that foreign investors see is the fact that homes are reasonably priced. With all these facts about Turkey, everybody seems to be interested in signing up a home loan in any of the banks or financial institutions offering one.

Developments of various properties in the place are considered budget-friendly. This being so, investors both from within and outside the nation are taking their chances on investing on home loan. But, is it true that the Turkish home loan market was put aside because there were no concrete mortgage regulations in the place?

The real scenario in Turkish home loan market

The Turkish mortgage regulation was supposed to provide tax incentives to mortgagors. These tax incentives are now utilized in order to develop the primary and secondary mortgage markets in the country.

Mortgage regulations in Turkey are not to be taken as an opportunity to raise the fair market value of Turkish properties offered in the loan mortgage market. If this happens, prospects of the said market – especially foreign investors – may back out from the project. This may even be a cause of another problem when selling mortgage bonds to countries like the USA.

How did Turkey solve the home loan problem coinciding with mortgage regulations?

Turkey must be very thankful with the presence of big construction companies who helped develop new projects just after the mortgage regulations have been implemented. These projects led to the decrease of home prices and are now available for loan. Effortlessly, the government as well as project proponents are able to sell the homes to various investors.

Of course, the country continued to flourish in terms of tourism. In fact, Kusadasi and Fethiye on the west continue to be recognized worldwide because of its well-known resorts. Smaller beach towns like the Aegean and Mediterranean Region are not left lagging behind. For anyone who continues to search for mortgaged property in Turkey, Antalya and Side at the southern part are popular choices.