Posted by meb at February 24th, 2007

Housing prices will increase by 10 to 15 percent after Turkey’s new mortgage system is launched, Century 21 Turkey General Manager Ahmet Rauf Saatçi has said. He emphasized that Turkey needed at least one year to implement and execute the system properly and added, “Those who want to purchase homes should seek professional consultation.” Saatçi said house prices had increased significantly in 2005 and early 2006, especially those in downtown areas, but then a stagnancy had occurred in the real estate market. “Short term rises may occur with the new system, but the ratios may vary within regions,” Saatçi said and added that these rises would stem from the increase in demand to obtain houses under feasible finacncial conditions.

source: Today’s Zaman

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