The Central Bank of Turkey (CBRT) has presented the Government with a series of proposals aimed at regulating the real estate market, according to Sözcü.
New Tax on Second Homes:
- The CBRT proposes introducing an additional tax for owners of more than one residential property.
- The aim is to stimulate the rental market and curb price growth.
Stimulating Construction and Rental:
- The CBRT proposes support measures for companies involved in the construction and rental of housing.
- This could become an alternative to private landlords and increase supply on the market.
Centralized Online Platform:
- The CBRT calls for the creation of a system for tracking rental payments.
- This will make the market more transparent and increase its efficiency.
Shared Ownership Model:
- The CBRT proposes introducing a “shared ownership” model, successfully applied in several countries.
- It will allow low-income people to gradually buy out housing by paying part of the cost as part of the rent.
Market Outlook:
- The CBRT’s proposals are still under discussion.
- However, they give an idea of how the Turkish real estate market may develop in the near future.
- Owners of two or more properties should be prepared for the possible introduction of a new tax.
Other Factors:
- In addition to the CBRT’s proposals, the Turkish real estate market will also be influenced by other factors, such as:
- The economic situation in the country
- Inflation rate
- Demand from foreign buyers
Conclusion:
- The Turkish real estate market is in a dynamic development phase.
- The CBRT’s proposals could lead to significant changes.
- Interested parties should follow the news and be prepared to adapt to new conditions.
