Turkey prepares for mortgage revolution: Turkey's real estate market is set for major changes in the year ahead, as new laws on mortgages and foreign ownership take their places on the statute books.

The Middle East › Nbr. 2006, January 2006

Author: Gorvett, Jon

Position:: BUSINESS & FINANCE

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BUSINESS & FINANCE

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Turkey prepares for mortgage revolution: Turkey's real estate market is set for major changes in the year ahead, as new laws on mortgages and foreign ownership take their places on the statute books.

RECENT DEVELOPMENTS ARE likely TO revolutionise Turkey's housing market and have a major impact on the rest of the as well. This will be the first time Turks will have been able to take out a mortgage, a step many analysts see as likely to mark a major surge in investment as Turks begin using property as collateral.

"A lot of ...

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