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Turkey hits mortgage record

  • 29.06.2020
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Turkey hits mortgage record

Over the past week alone, the size of mortgage loans increased by $ 613 million, and in general over two weeks the size of bank loans increased by $ 5.3 billion.

This is due to the fact that recently the government ordered that the state banks issued mortgage loans at the lowest rates in Turkish history.

This anti-crisis
measure supports the real estate sector in the country during the difficult
time caused by the COVID-19 pandemic. In May, sales figures fell 44.6% compared
with May 2019, but rose 19.1% within the month. This shows that real estate
market is recovering.
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