Marketization in housing finance reached its peak level in last decade and become new normal in Turkey thanks to private sector initiatives in housing supply, PPP activities of Housing Development Agency, booming primary mortgage market, growing internationalization, and urban regeneration....

This paper analyzes return enhancement patterns of Turkish REITs (T-REITs) from various perspectives over the period of July 2008 and March 2015. We find that T-REITs portfolio provides a slightly lower level of risk diversification benefit than investment trusts, but higher than the banks. The...

Housing prices have increased substantially in some emerging markets in recent years. Turkish housing market has also experienced a boom over the last decade with rapid house price appreciations. This study is the first to employ two different house price indexes to analyze housing bubble in...

Developments in primary mortgage markets, housing finance system and the activities of Housing Development Agency (HDA/TOKI) have been the major trends in Turkish housing markets in last decade. Based on the current policies, HDA seems the central institution to solve housing problems of the...

Notions of housing affordability concept are at the heart of debates about access to home ownership, housing finance and social policies globally. The existing housing affordability literature mostly focuses mainly on developed countries. Housing affordability problem in emerging countries are...

In this article, based on the past/current local housing finance initiatives, market conditions, national housing policy and lessons from global financial crisis, we examine whether market based housing finance system may provide efficient policy instrument to solve housing (finance) question of...

Housing is one of the major socio-economic problems in Turkey. Widespread spontaneous settlements in urban area may be accepted as the sufficient criterion for the level of housing question in Turkey. Additionally, there are important quality problems in existing housing units. This problematic...

Real estate is one of the foremost and traditional investments for Turkish household. In addition to this traditional demand, it has also observed that Turkish real estate market becomes one of the popular investment destination for foreign investors. 2003-2007 period would be accepted as the...

The Turkish real estate market has shown noticeable developments in recent years due to various reasons. In this article, we are attempting to define the pros and cons of the Turkish real estate market. We are also questioning whether the deficiencies may decrease the potential value of the...

First regulations of securities firms were going back to Banking Crisis emerging at early 1980's. The number of securities firms in Turkey were booming in the late 1980's and early 1990's but the sector has been shrinking as a trend in terms of number of the securities firms nearly more than a...