Credit extended to home and property buyers in Türkiye reached 17.6 billion YTL (about 13.3 billion USD) in April 2006, with projections pointing to 25 billion YTL (18.9 billion USD) by year's end, according to Dogan Cansizlar, head of the Capital Market Board (SPK).
Cansizlar spoke at the Sixth Real Estate Summit organized by GYODER, the real estate investment partnership, identifying persistent sector challenges including unlicensed buildings, substandard construction, unplanned development, elevated interest rates, and high rents.
He noted that a proposed mortgage law was under review in parliament's Plan and Budget Commission, with a full Assembly vote anticipated before the end of May 2006. The system was expected to take effect in the second half of the year.
Cansizlar said the new framework would benefit the broader economy by stimulating construction and reducing unemployment. He also called for cutting the value-added tax on construction from 18 percent to 1 percent.
Historical summary. TurkishPress restated this wire report, first published in May 2006, in its own words.