IntroductionThe Turkish residential mortgage market has grown significantly over the last few years driven by falling interest rates and competitors trying to gain market share.
What are the current issues facing this market? How are housing policies affecting its performance? Who are the biggest lenders? What will be the size of the sector in the next five years? This report provides the answers.ScopeCovers the residential mortgage marketProvides market sizing data in terms of gross advances and balances outstandingProvides competitor market share for the top five players in terms of balances outstanding.
A short profile of the top players is also providedLooks at housing policies and issues in the marketHighlightsTurkey currently does not have a fully developed mortgage market.
However, it is expected that new legislation will be passed in mid-2006 creating a fully functioning market.Turkey's principal economic problem has been extremely high levels of inflation.
Following the 2001 economic crisis, a 3-year program aimed at combating inflation through a floating foreign exchange regime and tight monetary policy was implemented.
The changes have had a significant impact on the rate of inflation in the following years.Mortgage interest rates in Turkey are very high.
However, these interest rates have been falling as the economy stabilizes.
A typical annual interest rate at the end of 2004 was around 24 per cent, but this had fallen to around 13 per cent at the end of 2005.Reasons to PurchaseLearn how the Turkish residential mortgage market has developed over the last five yearsUnderstand the recent developments in the market in terms of regulation, competition and product innovationsFind out Datamonitor's opinion on the future performance of the Turkish residential mortgage market over the next five years and its future prospects