TURKISH HOUSING LOAN MARKET AND SECONDARY MORTGAGE MARKET PERSPECTIVES

Year 2008, Volume: 8 Issue: 30, 177 - 184, 10.06.2008

Meltem Ulusan

https://doi.org/10.14783/maruoneri.679686

Abstract

Housing finance is a major issue for emerging economies. The approval of “Turkish Mortgage Law” paved the way for an efficient mortgage system in Turkey. However, the system should be supported by a comprehensive legal framework covering laws for foreclosure and title registration, the implementation of a strong secondary market mechanism and stable economy policies for the achievement. This paper begins with giving brief information regarding the key components of mortgage systems and then gives a detailed macro - economic evaluation of Turkish housing loan market, by considering the European Union. In the final section, some secondary market practices are introduced and possible perspectives for Turkey are discussed.

Keywords

Primary Mortgage Market, Secondary Mortgage Market, Housing Loans, Covered Bonds, Mortgage - Backed - Securities

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