Turkish Banks That Provide Mortgages Focus On Foreigners
Real estate demand from foreigners have caused Turkish banks to act. Garanti Bank, İş Bank, Akbank and Finansbank, getting demand from Holland, England and Skandinavian countries into consideration, prepare a special product to sell real estate to foreigners.
Kadife Şahin
Istanbul – Milliyet
The announcement for mortgage has not been made yet but Turkish banks have taken action to offer new products to sell real estate to foreigners.
Well known banks are working carefully on their new projects for foreingers, since mortgage is a new and risky business.
In this competition, demand from Holland, Denmark, Germany, England and Skandinavian countries for real estate in Turkey played a crucial role.
Turkish banks that took on debt from abroad to finance long-term home loans, have activated their law departments for this demand.
Bodrum stands out
Since foreigners live abroad, they cannot measure their risks, banks say; and so to minimize risk with mortgage loans, they are developing special new tools.
They also state that within the past two years, demand has increased but when Turkey enters the European Union, foreign demand for real estate in Turkey will continue to increase.
Read the full story: Mortgages in Turkey
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