An International Finance Corporation (IFC) official said Türkiye faces a substantial housing shortfall, with demand projected to reach 7 million residential units by 2015.
Shahbaz Mavaddat, IFC director for Southern Europe and Central Asia, made the remarks at a conference on housing finance, describing Türkiye as standing at a critical juncture in the development of its mortgage market.
Mavaddat valued Türkiye's housing market at 20 billion USD and pointed to strong long-term prospects for the sector, even as growth had moderated following financial turbulence in May of that year.
He also highlighted significant untapped potential in real estate funds and alternative investment instruments, calling Türkiye's economic performance over the preceding three years "outstanding."
Historical summary. TurkishPress restated this wire report, first published in December 2007, in its own words.