The Establishment of the Real Estate Regulation and Supervision Agency of Turkey (RERSAT)

Abstract

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 opportunities in the Turkish real estate market, and what kind of measures could be taken for the benefit of consumers/ investors in real estate. To analyze these issues, the paper aims to develop a problem-solution framework for the Turkish real estate market.For a better disciplinary framework for public/market based real estate activities, we suggest that a Real Estate Regulation and Supervision Agency of Turkey (RERSAT) should be established as a new government agency.

Keywords: housing, housing finance, Turkey, affordable housing, RERSAT

JEL Classification: G21, R14, O18