Türkiye's Mortgage Market Could Hit $150 Billion, SPK Chair Says

Capital Markets Board (SPK) chair Turan Erol projected that Türkiye's mortgage sector could expand rapidly to reach $150 billion, speaking at a house-financing conference in Ankara in December 2007.

Erol said he expected mortgage lending capacity to climb past 35 percent of gross national product, a trajectory he tied in part to falling interest rates that would lift demand for home loans. He said he preferred the sector to grow without state backing.

He described Türkiye's capital markets as dynamic and said the country was not facing financial instability at the time. Legislators, he added, were paying close attention to actual repayment capacity and required strong fiscal structures from both lenders and borrowers.

Erdogan Bayraktar, president of the Housing Development Administration (TOKI), said new financing and construction frameworks could channel dormant household savings into the market.

Historical summary. TurkishPress restated this wire report, first published in December 2007, in its own words.